Blockchain developer will gain access to an audience of 900 million viewers in 175 countries
Blockchain developer VeChain and the international mixed martial arts organization UFC have signed a long-term sponsorship agreement. The cost of the contract for a period of 5 years is about $100 million, according to the Sports Business Journal, citing a source.
The cryptocurrency company will participate in all events of the sports organization, which has an audience of approximately 900 million viewers in 175 countries. VeChain will also receive the rights to participate in the official UFC fighter rankings. The agreement provides for annual bonuses for fighters from the ambassador of the VeChain Foundation.
UFC fights under the VeChain brand will debut this Saturday, June 11th. The UFC 275 event will take place at the stadium in Singapore.
VeChain ranks 35th in the list of the largest cryptocurrencies by capitalization. Its valuation is $2.2 billion. The altcoin blockchain is used in logistics, the automotive sector, medicine, energy, etc.
In July 2021, cryptocurrency wallet and digital asset trading platform Crypto.com signed a partnership agreement with the UFC. The site must pay the UFC $175 million over 10 years.
And earlier, in December 2018, the Litecoin Foundation entered into a partnership with the UFC, in which the cryptocurrency logo appeared in the octagon at the arena in Los Angeles, where UFC 232 took place on December 29.
