HYDERABAD, APRIL 25, 2022: As many as 36 boxers from six franchisees will be seen in action in the first-ever, one-of-its-kind Pro boxing league, Hell’sbay Fight League (HFL), announced the organisers on Monday.
“Hell’sbay”, a people-owned league is a move to take Indian Professional Boxing to the world, and will be governed and managed by TIAR and sanctioned by the Indian Boxing Council (IBC).
“There will be six teams in the league with six players each from three categories. Indian boxers from 54kg (Bantam) to 80 kg (Light Heavy) will be eligible to enter the pool, which will be made for the franchisee owners to select their team,” informed Brigadier PKM Raja, President, IBC
The league, Hell’sbay Fight League (HFL), is planned to be held outside India in August, and will run on a unique concept of people’s ownership.
The Hell’sbay Fight League will be available to watch through pay-per-view and offer a big purse to its boxers in every fight.
Last week, the organisers had announced the idea of the first-of-its-kind initiative, where TIAR will sell shares of the six franchises to people who will invest in the NFTs (Non-Fungible Tokens) through TIAR. A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
Shedding more light on the much-awaited league, Akshar Madhavaram, CEO, TIAR, said: “The team owners, 1500 in each team, will select their respective teams through the internal voting platform. The selected boxers will train and participate in the league as per the fight cards decided by the various teams.”
TIAR will invite people to invest in NFTs through them. Once people invest in the NFTs, they will be eligible to jointly-own a team. There will be Six teams, with upto 1,500 people owing one team making it a total of 9,000 boxing and NFT enthusiasts, who will be able to own and manage their respective teams.
On the other hand, all boxers licensed under IBC, which is a sanctioning body for professional boxing in India, will be eligible to be part of the boxers’ pool.
#NFTs will now give you fractional ownership of boxing teams in the Hellsbay Fight League!!— TIAR (@TIARevolution) April 16, 2022
6 teams, 36 professional boxers fight it out in 102 bouts this August!!https://t.co/cuI5NFnUik
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