All great business ideas start somewhere. Sometimes, it’s just to introduce something new to the market. Other times, it’s to provide solutions to problems that have long plagued a certain industry or sector of society.
One great business idea aimed to hit these two birds with just one reality show - Fight to Fame. This reality show isn’t like the shows you watch on TV today. While it will make the winners household names in the future, common for reality shows, the business model behind it is unique.
In this article, we’ll be summarizing everything you need to know about Fight to Fame. Starting with what it’s all about, down to how everything works, even problems it solved.
Why Fight to Fame Was Created
Fight to Fame was created to provide answers or solutions to several challenges in the status quo. These challenges have long plagued the industries that this reality show plans to enter. The aging frontline of action stars and transparency for fan involvement.
Aging Frontline Action Stars
You’ve probably heard the names Sylvester Stallone, Chuck Norris, or Arnold Schwarzenegger. These names along with Jackie Chan and Jet Li have long been associated with action movies and blockbusters. Their hits have defined what action movies should be.
But it’s been years since they’ve had new releases, mainly because they’re not as young as they used to be. Stunts are a bit harder to do and bones are a little more fragile this time around.
This only proves that the pioneering stars that have shaped this aspect of the movie industry are past the peak of their careers and it's time for new players to enter the picture.
Even the younger ones like Vin Diesel and Dwayne Johnson are in their 50s which also makes it quite hard for them to perform like their younger selves. We can expect less and less hits from these stars which poses a question for the industry - who’s next in line?
With this question in mind, Fight to Fame was created to introduce a new set of action movie stars after going through a series of tests and assessments to make sure they’re worthy of the title.
The reality show is designed to single out the best one from each batch and this winner will have the chance to become Hollywood’s next action movie star. Now that we’re presented with an aging group of action stars, it’s time we move on and witness how the next big star will be trained and groomed for his or her first movie.
Transparency for Fan Involvement
For years, fans have seriously doubted whether results from polls and voting mechanisms for reality shows are the actual results. This has been one of the major worries of those who spend quite a sum just to vote for their favorite contestant.
With Fight to Fame’s business model, it easily eradicates the possibility of fraud and cheating since the show’s tokens are crypto tokens , which are pretty hard to manipulate and cheat due to the use of smart contracts.
Given that the entire show is built around blockchain technology, fans can trust the management knowing that transparency is one of the key advantages of this type of technology.
The Business Model
Now that we’ve tackled some of the reasons why Fight to Fame was created, let’s now dive into its unique business model. Nothing has ever been created like this show which is why it’s deserving of all the attention it’s gaining now. Who would’ve thought that you could combine blockchain technology, movies, and sports into one whole business model?
This business model was created in order to set a new order for global sports events and cinematography. Remember that the end goal of Fight to Fame is to produce winners who will eventually become world-famous action stars. Each major aspect of the business model has a significant contribution to the end goal of the show.
Blockchain Technology
Blockchain technology is one-third of the Fight to Fame’s business model but its applications goes beyond just the value of its own tokens. As mentioned in the previous sections, blockchain technology is grounded on transparency and accountability.
Meaning, those who have tokens who will participate in its voting mechanism are accountable for the results and are ensured the authenticity of the results. With blockchain technology, it’s fairly impossible to cheat the system, making the show reliable.
For those who have tokens, they can take part in choosing the sites for major events and qualification of revival matches for contenders. This can be done through fair community voting.
Moreover, the tokens will also allow viewers to vote on their favorite contender to help them win the competition. It’s not just a cryptocurrency, it’ll also allow them to propel the career of whoever they choose to support.
Sports
The Mixed Martial Arts industry has had its highs and lows the past recent decades. At some point, it struggled to even be aired on TV as it was banned in most US States. Today, it’s being shown all over the world and has a reach of over a billion households.
The industry has been progressing over the years and its fan base became even bigger. But there’s no denying that as times are changing, this industry should also follow its lead. One of the easiest ways to take the first step towards that progress is to try something new and different.
This is why Fight to Fame introduces a platform where the average person can try out their luck and showcase their skills in the hopes of becoming the next big action star. Generally, it’s quite a challenge climbing up the ladder in every industry.
The climb towards the top can sometimes be slowed down by opponents or even just unfortunate circumstances. While there are thousands of fighters willing to climb this ladder, only a few make it to the top.
With how Fight to Fame is designed, average people from all over the world have the chance to register into the competition and see how far their luck and skills take them.
Not only that, the transparent and fair voting mechanism gives each player a fair start. The show’s business model also aims to bring MMA fans into the world of cryptocurrency through its own tokens.
Movies
Considering that the show will produce the next batch of world-famous action stars, it’s expected that these future stars will be equipped with the necessary skills that will help them perform better when they become superstars.
The show has formed strong partnerships with Hollywood film companies that will produce future blockbuster movies starring the winner of the show.
You’ve probably heard about the movies, “Rambo”, “Hell Boy”, and “London Has Fallen”. Those are just some of the movies produced by the partners of Fight to Fame.
Fight to Fame Platform Overview
The business model also consists of various integrated modules that lets participants connect in an innovative way. These modules are part of several layers, depending on their functionality.
Here are the layers:
1. Exchange/Tokenization Layer - enables aspiring fighters to raise funds to support athletes, events, and shows
2. Token Application Layer - provides functional tools for key platform activities
3. Fans Community Layer - enables stars to interact with and expand their loyal fan bases
4. Media/Entertainment Layer - delivers shows and events for viewers
5. Advertising Layer - delivers smart and transparent data for efficient advertising campaigns
In addition to that, participants can also combine several modules to maximize the features and capabilities they can avail.
Fight to Fame Committees Overview
Every successful business has a clear structure of how the tasks and functions are distributed among its employees and stakeholders. This is a crucial aspect of a business because it lets every person who is part of that structure understand his or her importance in the entire dynamic.
In the case of Fight to Fame, it has established six plus one committees to handle different aspects of it. This section will only tackle four committees in the structure. Let’s start with the different committees.
Film Committee
This committee was tasked to create pioneering film handbook based on blockchain technology. Over the span of nearly four years of research, this handbook will contain specifics on how blockchain technology will be used for Hollywood’s film production including film creation, scripting, shooting, producing, and distributing.
As mentioned earlier, Fight to Fame has made sure to partner with several production giants to co-produce Hollywood action blockbuster movies to star the winners of the show.
Blockchain Technology Committee
Just like the film committee, the Blockchain Technology Committee is also on its feet developing a handbook that will be based on blockchain operations. It will contain profit models, income rights, and intellectual property rights that will help perpetuate the success of the entire organization.
Through the development of this handbook, you can expect to see a seamless integration of a decentralized technology that will handle real-life applications of payment, circulation, and settlement of the FF Tokens. Lastly, with this development, stakeholders for the FF token can guarantee fairness, network security, and anonymity.
Brand Derivative and Merchandise Committee
This committee is tasked to ensure strong interaction and brand integration in the field of events, film, and gaming. The Brand Derivative and Merchandise Committee will partner with major brands in fashion, sports, and films to establish roots and create various products for the benefit of both the viewers and the organization.
FF Token Global Distribution Committee
Also called the Fight to Fame Foundation, the FF token Global Distribution Committee is in-charge of the external operation to support and enhance the investment, distribution and stable circulation of the FF Token.
This foundation was officially created in Singapore in September 2019 and is a non-profit entity. It will also act as a sponsor entity that will support the development, construction and governance, and promotion of the reality show. Whoever is appointed as the Foundation’s president will serve for two years and cannot be reappointed for more than two sessions.
Majority of the functions of this committee include cooperation with other committees to promote blockchain technology, cryptocurrency, and digital currencies in over 100 countries and territories where cryptocurrencies are supported by the government.
Its governance principle is focused on keeping the sustainability of the Fight to Fame platform, its effectiveness of the strategy formulation, management effectiveness, risk control, and efficient operation of the platform economy. For countries and territories with governments that have yet to support cryptocurrencies, only events, films, and brand derivatives will be invested.
Whoever purchases FF Token will have a clear grasp of the main drivers of FF which are events, sports, brand derivatives, and movies.
Fight to Fame Foundation
In the previous section, we tackled the major committees under the management. For this section, we’ll be tackling other important aspects of the Fight to Fame Foundation such as its governance model and its economic operations.
Fight to Fame Foundation’s Governance Model
The committees under the governance model of Fight to Fame Foundation deal with the daily dirty work and matters that are beyond the functions of the committees previously mentioned. These committees are focused on the internal operations.
Strategic Steering Committee
According to the structure, this is the highest decision-making committee wherein its main functions are to negotiate and solve problems in community development. These usually include the following:
1. Modifying the Foundation’s governance structure
2. Formation and rotation resolution of the policy-making committee
3. Appointment and rotation resolution of the secretary-general of the Foundation
4. Appointment and dismiss of the chief executive and the head of each functional committee
5. Foundation review and amendment of the constitution
6. Strategic decision of Fight to Fame Development
7. Fight to Fame’s core technology changes and upgrades
8. Emergency decisions and crisis management agendas
2. Formation and rotation resolution of the policy-making committee
3. Appointment and rotation resolution of the secretary-general of the Foundation
4. Appointment and dismiss of the chief executive and the head of each functional committee
5. Foundation review and amendment of the constitution
6. Strategic decision of Fight to Fame Development
7. Fight to Fame’s core technology changes and upgrades
8. Emergency decisions and crisis management agendas
As for their term length, they should serve the committee for two years. After the expiration of their term, Fight to Fame will vote for 50 community representatives and another seven which will be the core personnel of the decision making committee.
Technical Audit Committee
This committee is responsible for technology research, direction development of blockchain, open port development and review, and the underlying technology development.
This committee is also tasked to hold seminars, communicate with community participants, and learn the dynamics and hotspots of the industry and community.
Remuneration and Nomination Committee
As what the committee is named after, it’s tasked to determine who will be the key managers of the Fight to Fame Foundation. The committee will also establish the rules of procedure and follow it through.
Moreover, it will also look over the competence of the management and authorize each appointment made. On a different light, it will setup a compensation system that will reward those who will make significant contributions to the said foundation.
Public Relation Committee
This committee handles the publicity regarding the community crisis and other social responsibilities. It will also take care of FF’s involvement in each alliance party.
Supervisory Committee
Set up inside the foundation, this committee is in-charge of risk control for the foundation. It also conducts a day-to-day guidance of the Foundation’s legal and compliance departments.
This committee will also create a mechanism that can report transparency and supervision over receiving internal and external reporting issues.
Economic Operations
The Foundation follows three major principles: give back to the community, sustainable development, and collaborative sharing of resources. These principles guide how the Foundation will expand and develop in various communities.
The digital asset income the foundation will have will be obtained through community economic operations. This will be transparent and will be distributed to all operations and community development.
The main sources of the Foundation’s income will be from two areas: the non-operating income and the regular operating. The non-operating income will be from presale phases and initial ICO funds. While the regular operating income will include product sales, patent transfer or licensing, and academic exchange and contribution.
As for budgeting, the Foundation’s budget will be mostly spent on day-to-day operations, technology development, business development, and reinvestment.
Fight to Fame Token
With the help of Fight to Fame ambassadors, the show is expected to conquer various emerging markets through its unique business model. In line with this, the FF token is expected to elevate the traditional sports competition systems to models that have adapted blockchain technology.
As for financing opportunities, the FF token can be used for public financing through the FF exchange for tokenization of projects and assets. Some probable financing opportunities would be through the initiative of fans to support and finance a candidate city to host an event.
Moreover, token buyers will also have a share of the revenue after the game through management of smart contracts.