Blockchain Logistics Company, Vechain has become the first layer-1 blockchain to partner with UFC, the world’s leading mixed martial arts organization, with an agreement of $100 million.
Vechain signed as a top-level global sponsor for the UFC within five years. The seven-year-old blockchain company Vechain made its first sports partnership with UFC, making it one of the MMA circuit’s most prominent sponsorships ever.
According to the report, UFC Senior VP/Global Partnerships Paul Asencio said, “There’s been a lot of focus on digital currency, but this is an example of how powerful blockchain technology can be in other areas.” “I can see many deals like this one coming across sports.” With this deal, he added that UFC sponsorship revenues are up 30% off the record ’21. VeChain, seeking branding and global exposure from UFC, gets the circuit’s “official blockchain partner” designation.
On June 9, VeChain announced that the project had just signed a funding agreement for UFC of $100 million, which will run for a minimum of 5 years. Accordingly, they will be featured more in UFC events, tournaments, and social media channels as of June 11.
At this weekend’s UFC 275 event in Singapore, VeChain will activate its new rights with branding in the Octagon and broadcast and social media integrations. VeChain will also sponsor the circuit’s fighter rankings, now the UFC Rankings Powered by VeChain.
Under the deal, this project will have the right to rank the official UFC fighter featured on UFC’s live and online broadcasts. VeChain’s logo will appear on 42 annual and special events Dana White Contender Series 10. Both will collaborate on creative content related to UFC talents and athletes and an annual Brand Ambassador fund to provide more marketing opportunities and income sources for UFC athletes.
Co-founder and CEO of VeChain – Sunny Lu also said, “Partnering with UFC is a historic moment on the journey to raise awareness of blockchain technology and move closer to global conquest.”
VeChain Platform
Recently, VeChain developed an innovative contract platform compatible with Ethereum Virtual Machine (EVM)- VeChainThor Blockchain. VeChain has numerous utilities across various platforms, such as supply chains, sustainability initiatives, carbon inflation management, energy, Medicine, etc
The recent VeChain partnership is with Walmart, Bayer, BMW Group, and BYD Auto while also making PwC and DNV its strategic partners.
UFC’s move to Crypto
This partnership with VeChain speaks for the recent interest of UFC in Crypto. The last crypto-based UFC partnership came through last July with Crypto.com on a $175 million grant deal within ten partnership years. Under the deal, Crypto.com announced it would reward UFC fighters with Bitcoin (BTC) starting from April 2022.
UFC is the world’s leading general martial arts organization (MMA), with more than 688 million fans and 198 million followers in the media. UFC produces more than 40 events annually in some of the world’s most prestigious areas. UFC currently serves nearly 900 million households on television in about 175 countries.
