When we talk about Professional Boxing, we will hear that sometimes it is referred to as PrizeFighting. Boxing is one of the oldest sports in history and when it started it was meant to resolve disputes between two individuals, the winner is awarded with the disputes resolution. Eventually it made its way to the Olympics in 1904 when the awards became medals. It then progressed to Professional Boxing where prize included money.
While a number of fighting Sports with the evolution of Mixed Martial Arts involve money as reward, PrizeFighting is still associated with Boxing as it is one the oldest form of self-defense and Fighting Sports.