UFC is entering the cryptocurrency world with a long-established and lucrative partnership. According to reports, MMA Promotions and Crypto.com have reached a 9-figure brand promotion agreement.
Crypto.com It is now the official fighting equipment partner of UFC. This means that the logo of the cryptocurrency platform will appear on the clothing of the participants of every card, from fighters to trainers.
This is the first time UFC has sold the rights to the equipment worn by fighters in the octagon. This transaction is worth 175 million U.S. dollars in 10 years, CNBC report.
“This is a collaboration between the two companies that are best at their jobs,” said Dana White, president of UFC. “No company can promote the popularization of fighting sports more than UFC. We are now one of the largest sports brands on the planet. We can help Crypto.com reach more people around the world through the power of our brand.”
According to the company, more than 10 million customers use Crypto.com, which allows users to buy and sell cryptocurrencies. It was established in 2016.
The partnership began with the biggest MMA event this year. Set to take place in Las Vegas on Saturday, the trilogy battle between Conor McGregor and Dustin Poirier made UFC 264 headlines.
According to sources, UFC players will not be paid directly from the deal ESPN, Although athletes can negotiate personal transactions with Crypto.com as paid brand ambassadors.
Kris Marszalek, co-founder and CEO of Crypto.com, said: “This is a historic moment because the fastest growing cryptocurrency platform and the fastest growing movement have joined forces to help accelerate the world’s transition to cryptocurrency. “This is just the beginning of a long-term partnership with UFC, and we look forward to the results we will build together.”
This marks the second nine-figure sponsorship agreement between Crypto.com and a professional sports league in the past 10 days. According to reports, the platform recently concluded a deal worth more than $100 million with Formula One. NBC Finance Channel.