An artist on the NFT sales platform PowerFan has released a painting to celebrate a boxing match between the two legends of Manny Pacquiao and Yordenis Ugas. The painting will be digitized as an NFT and is being auctioned on the platform.
The Show Must Go On
Dubbed as The Show Must Go On, the match is to be held on 21st August in Las Vegas. Boxing has always been a sport with a large fanbase and high-end matches like these are what drives the $440 billion revenues today.
Jun Aquino, the man behind the art, is creating the custom painting. The painting will be revealed on the 20th of August and the auction will continue August 27 at 6:00pm PST, with the highest bidder not only having the digital ownership as an NFT but will also get the original painting personally signed by Manny Pacquiao.
PowerFan has also listed other paintings that can be immediately bought, ranging from $250 to up to $2,500. All purchases come with exclusive behind the scenes footage and VIP access to other paintings by Jun. NFTs have increasingly become a part of the sports fan culture with platforms like NBA Top Shot having more than $480 million in sales and these paintings cement the boxing world with the technology.
Sales from the exclusive match painting will benefit The Manny Pacquiao Foundation. Formed by world champion boxer, Manny Pacquiao, the charity works towards helping the less fortunate and elevating their conditions so they can become a bigger part of society.
Why PowerFan
PowerFan.io is an NFT marketplace that allows writers and content creators to connect with their fans and buyers in a borderless fashion. While several other platforms act as a marketplace for all kinds of content through NFTs, PowerFan stands apart because of its collection of features that are designed to make it easier and convenient for sellers and buyers:
- One-Click NFT Creation: While minting an NFT requires coding knowledge, PowerFan makes it easy for anyone to have their own NFT in just a few seconds.
- Subscription: A digital library concept where users can pay to access online books to read.
- End to End Services: PowerFan takes care of the NFT creation, sales and revenue handling.
- Testing Waters: Creators can release a portion of their book chapters to test how their fans will react, allowing them to adjust their art during the creation process.
- DeFi: Authors and users can stake tokens to "earn while they learn" and create a whole new source of passive earning.
Decentralization Power
According to a market report by Smithers, the digital publishing market will account for nearly one-fifth of the global printing’s $821 billion by next year. With the rise of an online publication that cuts down the costs of paper, printing and physical distribution, this should have resulted in a revenue increase for the authors, but digital intermediaries arose like Amazon which charges heavily and eat into the sales, leaving authors with little to go on.
As a platform that employs blockchain technology, PowerFan has helped to eliminate the need for publication houses. These intermediaries traditionally provide services through which artists and creators can get their works published digitally, marketed and sold to readers. This takes a toll on the authors as the publication and marketing agencies take a large slice out of the sales.
PowerFan creates a decentralized marketplace where authors can publish their works and their fans can directly buy or rent the book to enjoy it. Through this, the revenue that would have been paid out to the publication agents and other middlemen online platforms such as Amazon is routed back to the authors.
