The UFC has recently signed a ten-year partnership worth 175 million USD with crypto marketplace Crypto.com, as reported by someone well-versed with the terms, this is by far the greatest sponsorship in the promotion’s record. This also is another great example of how large institutions are now holding the belief that crypto will only continue to grow in the future.
Crypto.com is all set to be UFC’s very first international fight kit associate. This means that its branding is going to be on the uniform of every UFC star who steps into the ring. The partnership will begin this following weekend in Las Vegas where Conor McGregor, the most-paid athlete will be facing Dustin Poirier.
This is the most recent partnership between a sports company and the swiftly evolving world of virtual currency investing, which has garnered popularity during the COVID-19 pandemic. The Miami Heat, for instance, revealed a long-term joint venture with FTX.us, with the cryptocurrency exchange also buying naming rights to the team’s stadium. MLB, the Montreal Canadiens, and NFL footballer Trevor Lawrence have also signed deals with the industry.
UFC was among the first chief US sports to recommence holding events during the onslaught of the pandemic, and it ended 2020 having held forty-one out of its forty-two scheduled events. In March, the company signed a 5-year partnership worth 100 million USD with DraftKings. That deal involved a commitment to spend and added 250 million USD in promoting DraftKings UFC products. This following weekend is set to be its fourth consecutive PPV event in an arena that is at 100 per cent capacity.
That is crucial for UFC’s holding company Endeavor, which had gone public in April. UFC has recovered to being a high asset business at a time when the rest of the sports and the overall entertainment industry remains majorly restricted by the pandemic.
Crypto has also consigned to working with individual UFC stars, as stated by UFC chief operating officer Lawrence Epstein.
