The Ultimate Fighting Championship (UFC), an American mixed martial arts organization has recently signed up for a 10-year agreement worth $175 million, declaring a partnership with Crypto.com. This legendary collaboration with the cryptocurrency company is claimed to be the most expensive in the history of promotional deals.
Crypto.com to be all over UFC merch
UFC is one of the first in line to shift its sponsorship towards the digital currency business. Crypto.com’s logo will be advertised on UFC fight kits, walk-out costumes worn by UFC’s fighters, and on uniforms of staff working in and around the octagon.
Crypto.com will also be working with UFC athletes on an individual basis. Being the first and only global sponsor, Crypto.com will be advertised by every UFC fighter throughout the season. The partnership will start during the second weekend of July when Conor McGregor faces Dustin Poirier in Las Vegas.
UFC is optimistic about the partnership
Cryptocurrency is being adopted globally and the process of embedding crypto into the routine of traditional markets is growing swiftly. This partnership has secured the lead as the newest and biggest between sports and crypto. The pandemic has played a significant role in highlighting the prominence of cryptocurrencies.
“If we had talked a couple of years ago, crypto might not have been on the radar, but it’s sort of a sign of the times…It’s new, but it’s moving quickly, and it’s very dynamic.” UFC COO Lawrence Epstein told Sportico.
UFC is impressed by the consumer base of the crypto markets. With a younger, wealthier, and technologically more advanced consumer base, UFC expects to expand itself into the next phase of digitization.
“In general, that consumer is younger, and based upon the data that we’ve seen, that consumer also has a fair amount of discretionary income…It’s an attractive group to try to get interested in your product.” Epstein explained.
UFC has been committed to its events even during the pandemic, hosting over 41 events during 2020. This partnership would mean the continuation of committing to bringing the sport of mixed martial arts to the audience along with expanding the audience base exponentially.