UFC signs further deals with more crypto-based companies

The UFC entered the crypto market when they signed a deal with DapperLabs and followed up with a sponsorship deal with Crypto.com to facilitate their non–fungible tokens. Now, the UFC has signed a long-term deal with VeChain. 

VeChain was the first to announce the partnership with the mixed martial arts organisation. It has been reported that the deal is worth around $100 million over at least five years. That is a huge deal for VeChain because it further legitimises the company in the mainstream market. 

This is not the first crypto-based company that UFC has connected with because you can see Crypto.com, DraftKings, Socios, and DapperLabs in the list of their partners. You can tell that UFC President Dana White and his team are big fans of the crypto industry and its assets like cryptocurrency and non-fungible tokens which is why they’re leaving such a huge footprint in the market. 

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VeChain will be a meaningful partnership for the UFC

While most people expected VeChain to partner up with other sports like golf or tennis, they chose the UFC because the MMA organisation is the most open to investors from the crypto market. Any person who is aware of how the UFC works could have seen this coming because Dana and his team always have eyes on the future and how they can continue to grow. 

Blockchain and crypto assets are the hottest assets in terms of sports sponsorships. Just take a look at how Crypto.com managed to get the NBA as one of its main partners and the exchange’s entitlement at the former Staples Center which is now named Crypto.com Arena. Both sports and esports teams have signed up with Socios as well. 

Sports will continue to grow with crypto

The sports world will continue to grow with the crypto industry because it looks like more sports leagues are getting crypto partnerships. The leagues want what these crypto-based companies offer while on the other side, these companies can benefit from the popularity of the leagues’ teams and players. 

With elite athletes showing their support, you can expect that their fans will flock to their platforms because of their influence. This was the case for Crypto.com during the Super Bowl when they released a commercial starring LeBron James. The UFC will surely capitalise on their top stars like Israel Adesanya or Kamaru Usman who can bring more people into the crypto market with VeChain and many more partnerships. 

In the sports betting world, you can expect more sports and esports teams to team up with more platforms to help them thrive. This can come in many forms including partnerships with any Bitcoin casino platform, well-rounded gambling platforms like Gamdom, and many more companies around the world. Hopefully, it can keep growing because both industries deserve the support.

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Words: Pocholo Magsino