Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Crypto.com makes its way to UFC’s newly formed “Cryptocurrency Platform Partner” sponsorship category.
Ultimate Fighting Championship (UFC), the world’s biggest mixed martial arts organization has recently entered a long-term deal ‘fight kit’ with crypto exchange Crypto.com.
The multi-year sponsor deal will give Crypto.com on-site advertising and media broadcasts rights. Thus, the world’s largest crypto trading platform will get visibility across UFC’s massive global fan base of 625 million people. Besides, Crypto.com also gets a brand presence on fight kit items used throughout UFC. This also includes apparel worn by athletes and clothes worn by the training staff.
Moreover, Crypto.com makes its way to UFC’s newly formed “Cryptocurrency Platform Partner” sponsorship category. Although the terms of the deal aren’t out in the public, people familiar with the matter told CNBC that it’s a 10- year deal worth $175 million. Speaking on this development, UFC President Dana White said:
“This is a partnership between two companies that are the best at what they do. No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”
The Rise of Crypto Sponsorships
Crypto.com is one of the biggest trading platforms by trading volume and more than 10 million users. It offers multiple services for crypto users like VISA cards, wallets, trading, payments, and other interest-earning products.
Crypto.com has been signing several deals in professional sports in recent times. Just last week, the platform secured a $100 million sponsorship deal with Formula 1. Now, with the latest UFC deal, Crypto.com co-founder and CEO Kris Marszalek calls it a “historic moment”.
“It’s a historic moment as the fastest growing cryptocurrency platform joins forces with the fastest growing sport to help accelerate the world’s transition to cryptocurrency. This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together,” he said.
It has been a recent trend that crypto exchanges are signing new deals with sports platforms. The recent UFC deal by Crypto.com is not first-of-its-kind. Crypto exchange FTX has also signed a sponsorship deal with NBA team Miami Heat.
Also, the NBA signed its first team jersey patch agreement with a crypto firm last week. Besides, crypto platform StormX signed a deal with Portland Trail Blazers recently.