UFC 1 used an eight-man tournament format, with the winner receiving $50,000. The tournament featured fights with no weight classes or judges. The two rules, no biting or eye gouging, were to be enforced only by a $1,500 fine. The match only ended by submission, knockout, or the fighter's corner throwing in the towel. Gloves were allowed, as Art Jimmerson showed in his Quarterfinal bout against Royce Gracie, which he fought with one boxing glove. Fights consisted of unlimited 5 minute rounds until a winner was decided.

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