UFC News: American mixed martial arts organization Ultimate Fighting Championship (UFC) has announced a partnership with Crypto.com. According to the partnership, a 10-year deal worth $175 million was signed. This collaboration with the cryptocurrency company is claimed to be the most expensive deal in the history of advertising deals.
What will be done under the agreement?
The UFC is one of the first companies to shift its sponsorship into the digital currency business. Crypto.com’s logo will be displayed on UFC fight kits, the costumes worn by UFC athletes, and the uniforms of personnel working in and around the ring.
Crypto.com will also work with UFC athletes individually. Crypto.com, the first and only global sponsor, will be announced by every UFC athlete throughout the season. The partnership will kick off on the second weekend of July, when Conor McGregor will face Dustin Poirier in Las Vegas.
Cryptocurrency is being adopted globally and the process of incorporating crypto into the routine of traditional markets is growing rapidly. This partnership has secured the lead as the latest and greatest between sports and crypto. The pandemic has played an important role in highlighting the importance of cryptocurrencies.
UFC COO Lawrence Epstein said in a statement:
“Crypto might not have been on the radar if we’d talked a few years ago, but it’s kind of a sign of the times. It is new but fast moving and very dynamic.”
The UFC states that crypto markets are being influenced by their consumer base. With a younger, wealthier and more technologically advanced consumer base, the UFC hopes to expand itself into the next phase of digitalisation.
“Overall, this consumer is younger, and from the data we’ve seen, this consumer also has a decent amount of discretionary income. An attractive group to try to engage with your product.”
The UFC was committed to its events even during the pandemic and hosted more than 41 events throughout 2020. This partnership marks a continuation of the commitment to bring the sport of mixed martial arts to audiences as well as expanding the audience base exponentially.