Floyd Mayweather and Conor McGregor will go head to head this weekend in Vegas, and regardless of the outcome, they will both take home a pretty big paycheck. However, since the fight crosses the boxing/UFC line, there isn't a championship on the line, and there wasn't a belt for the winner.
So apparently the WBC decided to create "the money belt" which is REALLY over the top. It's made of 3,360 diamonds, 600 sapphires, 300 emeralds, 3 pounds of gold, and the skin from an entire crocodile.
By boxing standards the belt has no real "value," but obviously it has a whole lot of monetary value.