Floyd Mayweather — the same one that’s fighting Conor McGregor on Aug. 26 — is serious about cryptocurrencies.
The boxing champ is promoting an ICO (Initial Coin Offering) of a startup called Hubii. In an Instagram post, which shows him posing in a (probably very expensive) suit, he described Hubii as “smart contract for sports.” He also wrote we can now start calling him Floyd “Crypto” Mayweather (his standard nickname is “Money”).
This is the second ICO Mayweather is promoting. In July, he hyped up the ICO of a prediction market platform Stox, which went on to raise $33 million in Ethereum in less than two days.
Just like with the Stox ICO, it’s unclear whether Mayweather is an investor or if he’s actively participating in the ICO. In his plug for Hubii, he did use the hashtag #ad, so it’s likely that the post is just a paid advertisement.
Norway-based Hubii has been around since 2007 and currently offers a location-based news aggregator. The company claims it reaches 50 million users daily, and that it has a network of 560 publishers and partners in place.
Its new venture, Hubii Network, is described as a “blockchain-based decentralized content marketplace”. Hubii claims that a content market running on Ethereum’s blockchain will bring a number of advantages to its users, making it “free of monopoly” and eliminating the need for third party intermediators. Hubii also proposes a number of use cases for smart contracts on the platform, such as tipping content creators and automated payment to content owners once a certain number of views is reached.
The ICO, which starts today, will allow people to exchange Ethereum for digital tokens called Hubiits and it will be open for two weeks. It will be capped in $5 million instances, though the total overall cap will not be revealed until the sale is over.
You can read Hubii’s whitepaper here.