UFC Announces Mega Sponsorship Deal With Crypto.com Exchange Worth $175 Million
Leading mixed martial arts organization, Ultimate Fighting Championship (UFC), has signed a multi-million dollar deal with crypto exchange Crypto.com.
The deal is worth $175 million and is expected to last for more than 10 years.
Crypto.com Becomes UFC’s Fight Kit Partner
The collaboration would see Crypto.com’s brand on the fight kit items used by UFC athletes, including clothing worn by the training staff.
The Hong Kong-based exchange has also obtained UFC’s newly launched sponsorship category named Cryptocurrency Platform Partner.
Co-Founder and CEO of Crypto.com, Kris Marszalek, said the deal with UFC would help the sports sector speed up the world’s transition to cryptocurrency, CNBC reported.
“This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together.”
This partnership marks another milestone in the growing connection between the crypto and the sports sectors.
The UFC has been quite active in the cryptocurrency industry. The organization has signed several partnerships with crypto and blockchain-related startups this year.
In May, the UFC announced plans to introduce a UFC fan token in partnership with blockchain rewards app Socios.com and tokenization platform Chiliz.
Holders of the fan token stand a chance to access UFC-related offers and rewards, including tickets to UFC events or pre-sale access to tickets.
The partnership was also aimed at helping UFC grow its brand with the Socios.com platform while also capitalizing on Chiliz's fintech expertise in the sports space.
The UFC also inked a deal with major cryptocurrency casinos and sportsbook Stake.com in March this year. The collaboration was focused on creating unique digital UFC content for Stake’s customers.
Crypto.com Entering Into The Sports Scene
Just like UFC, Crypto.com has also been busy these past few months signing partnership deals. The exchange seems to be working on establishing a brand presence with sports fans.
Crypto.com recently signed a deal worth $100 million with Formula 1. The exchange would get top slots for advertising at the new Sprint format that would be used during the upcoming British Grand Prix, slated for July 17.
Other sports partnerships Crypto.com has included the National Hockey League franchise and the Montreal Canadiens.
Similar to Crypto.com, fellow crypto exchange FTX has also been in the sports scene lately. In April, FTX signed an agreement worth $135 million with Miami Heat. The contract included naming FTX as an exclusive partner while it takes over the stadium's naming rights starting from the 2021-22 season.