Blockchain logistics agency the VeChain Foundation has signed a multi-year advertising and marketing partnership with the Ultimate Fighting Championship (UFC) value practically $100 million, changing into the UFC’s first-ever Layer 1 blockchain associate.
The UFC is the biggest promoter and occasion organizer for Mixed Martial Arts (MMA) and VeChain’s advertising and marketing belongings and model will probably be built-in throughout the UFC in reside occasions, in-arena promotion, social media and different areas.
The deal is reportedly value virtually $100 million over a minimal five-year partnership in line with an nameless supply quoted by Sports Business Journal. The UFC’s Senior Vice President of Global Partnerships Paul Asencio mentioned the UFC’s sponsorship revenues are up 30% from an already record-breaking 2021 because of the deal.
The partnership kicks off instantly and VeChain’s belongings will begin showing this Saturday June 11 throughout a UFC occasion held in Singapore.
VeChain is a enterprise centered layer 1 ecosystem with an emphasis on provide chain monitoring. The partnership sees an enormous shift from Vechain’s frugal first quarter. A monetary report launched in May reveals the VeChain Foundation solely spent round $4 million in Q1 with lower than $660,000 spent on advertising and marketing nevertheless it did amass an enormous $1.2 billion “war chest.”
VeChain mentioned the partnership is “one of the deepest integrations within premier UFC assets of any sponsor in UFC history,” with the UFC estimating VeChain’s model will attain 900 million tv households in 175 international locations.
As a part of the deal, VeChain will personal UFC’s official fighter rankings titleship now known as the “UFC Rankings Powered by VeChain” together with a branded presence contained in the preventing ring in any respect occasions.
VeChain will additional be promoted in-venue on outstanding digital shows and each firms will create content material for the UFC’s social media and different digital platforms which the UFC estimates will attain 200 million individuals.
An annual “Brand Ambassador fund” can even provide paid alternatives to UFC athletes collaborating in advertising and marketing actions for VeChain.
Related: Blockchain, crypto set to take sports activities trade past NFT collectibles
The UFC has lengthy partnered blockchain and crypto firms, one of many UFC’s largest partnerships is its $175 million cope with Crypto.com which noticed the crypto change change into the UFC’s “Cryptocurrency Platform Partner” with fighters receiving fan bonuses in Bitcoin (BTC) by means of the partnership.
Crypto.com additionally launched the primary approved UFC non-fungible token (NFT) assortment in November 2021 and the UFC has continued to launch extra licensed NFTs with NFT developer Dapper Labs.
In March 2021 the crypto-only on line casino and sports activities betting platform Stake change into UFC’s “First Official Betting Partner” for its Asia and Latin America markets.