Sustainability-focused blockchain foundation VeChain (VET) has signed a multi-year agreement with the UFC, the world’s leading mixed martial arts (MMA) organization.
The deal makes VeChain the first “Official Tier 1 Blockchain Partner” to receive marketing information about UFC assets and events, according to a June 9 announcement. news release.
The deal is valued at $100 million and is expected to last at least five years. report by the Sports Business Journal.
Paul Asensio, UFC Senior Vice President of Global Partnerships, said:
“VeChain’s experience in using real blockchain applications to help the public and private sectors achieve their carbon reduction goals is an effort we are proud to support.
We look forward to working with VeChain to use the worldwide popularity of the UFC to promote a positive message that blockchain technology can be used to protect our environment for future generations.”
The VeChain Foundation has developed the VeChainThor blockchain, a smart contract platform compatible with the Ethereum Virtual Machine (EVM). Vechain has been deployed across many sectors including supply chain, sustainability initiatives, carbon management, medicine, energy and more.
VeChain has previously partnered with Walmart, Bayer, BMW Group, BYD Auto and more. It also has PwC and DNV as strategic partners.
As part of the deal, VeChain will acquire the rights to the official name of the UFC Fighter Rankings, which will be changed to “UFC Rankings Powered by VeChain,” according to a press release.
The VeChain brand will also feature at 42 UFC Octagon events and 10 Dana White’s Contender Series events. In addition, blockchain branding will also be featured on UFC Fight Decks, LED displays placed around the octagon.
VeChain and the UFC will also collaborate to create content featuring UFC athletes that will be distributed through UFC social media channels. The partnership includes an annual brand ambassador fund that provides paid marketing opportunities to UFC athletes.
VeChain will unlock its branding rights on June 11 during the “UFC 275: TEIXEIRA vs PROCHAZKA” event at the Singapore Indoor Stadium.
The UFC claims to have 688 million fans worldwide and its live broadcasts are broadcast to approximately 900 million television viewers in over 170 countries. His previous partnerships in the crypto space include partnerships with Crypto.com and Socios.com.
Socios.com launched a UFC fan token in June 2021. In November 2021, the UFC expanded its long-term partnership with Crypto.com to launch exclusive non-fungible UFC tokens (NFC). In April, in collaboration with Crypto.com, the UFC announced new Fight Night bonuses for UFC athletes to pay in bitcoin.
Credit : cryptoslate.com