VeChain Becomes UFC’s First Layer 1 Blockchain Partner
VeChain – the layer one blockchain focusing on sustainability and logistics – has formed a partnership with the Ultimate Fighting Championship (UFC). The network will be integrated into a series of live events and media channels by the world-renowned mixed martial arts organization. VeChain-branded assets will debut this Saturday, June 11, at the Singapore Indoor Stadium.
According to the official announcement, VeChain is the first-ever base blockchain that receives “unprecedented integration into UFC assets through this extensive collaboration. The project will access a variety of “meaningful brand visibility” across live broadcasts of UFC’s major events.
In addition, the two will collaborate on a variety of custom and original content featuring UFC talent and athletes. Under the multi-year agreement, VeChain will own UFC’s official fighter rankings titles:
“The integration also provides VeChain with a strong association with one of the most important components of UFC matchmaking — the fighter rankings.”
Considering that UFC could potentially reach 900 million audiences from 175 countries, the new partnership was seen by Sunny Lu – the co-founder and CEO of VeChain – as a “historic moment” for the company.
The eye-catching deal is worth nearly $100 million with a minimum five-year agreement, according to a source acquired by Sports Business Journal.
UFC Senior VP/Global Partnerships Paul Asencio said that – after one of the MMA circuit’s largest sponsorships – the organization’s sponsorship revenues are already up 30% from last year.
UFC’s engagement with the crypto industry could be traced back to its announcement of an official partnership with CryptoCom last year. UFC’s president Dana White called the crypto firm “the best partner” the organization has ever had. In April, UFC said it would pay bitcoin bonuses to UFC fighters with the help of CryptoCom.