(AllHipHop News) MC Hammer has entered into the world of MMA.The rap icon won't be the one fighting and grappling though as he has launched a full service management and promotional company for MMA fighters called Alchemist Management."I've been a fan of combat sports for years," MC Hammer said. "MMA is the fastest growing sport in the world and this is a great opportunity for us to launch a full-service management company. Alchemist Management will leverage its relationships and resources for the benefit of fighters, the sponsors, and the industry at large."Hammer will act at the Los Angeles-based company's CEO.Alchemist Management isn't Hammer's first foray into fighting. He once managed Evander Holyfield in the early 1990's, a venture that lead to a championship belt.Presently, Alchemist Management represents a variety of fighters in the UFC and Strikeforce, two of the more popular MMA organizations.Hammer, born Stanley Burrell, remains one of the most popular rap artists in history. His seminal album Please Hammer, Don't Hurt 'Em sold over 10 million units and stayed in the number one slot for 21 weeks. He's the first rap artist to sell diamond.