In the early hours of October 12 (UTC), Synthetix founder Kain Warwick and Bankless founder David Hoffman faced off in a real-life fight in Salt Lake City, Utah. The event was co-hosted by Permissionless and the fight streaming platform Karate Combat. Permissionless is a major cryptocurrency conference currently being held by Bankless and Blockworks, where attendees were offered free tickets to the fight.
From a marketing perspective, it’s easy to see why David participated in the event. For Kain, his involvement stems from a previous $500,000 bet with David regarding sponsorship (essentially an investment) for his new project, Infinex.
The Showdown: Power vs Popularity
At around 2:40 AM UTC, both fighters entered the ring. From the initial reception and physical stats, it was clear that Kain, being significantly larger, had the advantage in size. However, David enjoyed higher crowd support.
The fight began at 2:44 AM, and despite lasting under 8 minutes, it was a dramatic two-round match. In the first round, both fighters started cautiously, but Kain (in white shorts), with his more imposing physique, managed to overpower David (in black shorts) and had him on the ropes at one point.
A Comeback Victory for David
However, as the second round began, David’s superior stamina and endurance started to show. Despite Kain’s early dominance, David managed to knock Kain down twice, eventually securing the victory.
The match had gained significant attention across the crypto community, with live spectators cheering on their favorite fighter in a unique fashion—some even humorously shouting phrases like “liquidation incoming” when one fighter was in trouble.
Moreover, prediction market platform Polymarket had opened a betting pool for the fight as early as September 24, and by the end of the event, the pool had reached nearly $60,000 in volume.
Kain’s Pre-Match Confidence and History of Rivalries
Historically, Kain Warwick, who has cultivated a persona of a “fight enthusiast,” was favored to win. His odds had consistently remained above 60% in the days leading up to the match. Back in August, Kain had even challenged his long-time rival, Su Zhu, to a fight, but the offer was declined.
Before this fight, Kain had posted pictures of himself looking in peak physical condition, declaring he was ready for battle. His confidence even bolstered support for him on Polymarket.
David’s Quiet Confidence and the Unexpected Outcome
In contrast, David Hoffman remained quiet and focused. While he didn’t post any pre-fight photos showing off his physique, he confidently tweeted, “Everyone’s overlooking the fact that I have more fight experience and training time.”
As it turned out, David’s quiet confidence paid off. Not only did he win the fight, but his supporters on Polymarket pulled off a surprising comeback.
After the match, David gave a victory speech and hinted at a recap of the fight coming on Monday. It seems he now has bragging rights that will fuel conversations for quite some time.
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