As many as 36 boxers from six franchises will be seen in action in the inaugural Pro boxing league, Hell's Bay Fight League (HFL), the organisers announced on Monday.
'Hell's Bay', a people-owned league is a move to take Indian Professional Boxing to the world, and will be governed and managed by TIAR. It is 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 to 80kg will be eligible to enter the pool, which will be made for the franchisee owners to select their team," said IBC President PKM Raja.
The HFL is planned to be held outside India in August, and will run on a unique concept of people's ownership. The HFL 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 (The Indian Art Revolution) 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.