VeChain’s trademark will be integrated into different UFC brand images throughout the course of the multi-year partnership, which is expected to reach 900 million consumers around the globe who follow the events.
The VeChain Foundation, a cryptocurrency transportation company, has secured a multi-year advertising deal worth over $100 million with the Ultimate Fighting Championship (UFC), making it the UFC’s 1st Layer 1 cryptocurrency sponsor.
VeChain’s advertising investments and brand will be incorporated across the UFC in live sporting events, in-arena advancement, social media, and other regions. The UFC is the biggest developer and event organizer for Mixed Martial Arts (MMA), and VeChain’s advertising investments and brand will be incorporated across the UFC in live sporting events, in-arena advancement, social media, and other areas.
Including an unnamed source mentioned by Sports Business Daily, the arrangement is for about $100 million over a minimum five-year collaboration. As a consequence of the agreement, the UFC’s commercial earnings are up 30% with an already career-high 2021, according to Senior Vice President of Global Partnerships Paul Asencio.
The relationship will start today, with VeChain assets debuting this Saturday, June 11, at a UFC event in Singapore.
VeChain is a layer 1 network aimed at businesses, focusing on cost monitoring. Vechain’s parsimonious first quarter has resulted in a significant shift in the relationship. According to a financial statement filed in May, the VeChain Foundation barely spent roughly $4 million in Q1 and less than $660,000 on advertising, but it collected a massive $1.2 billion “war chest.”
The agreement is touted as “one of the closest synergies within prime UFC properties of any advertiser in UFC history,” with VeChain’s brand expected to hit 900 million television homes in 175 countries, according to the UFC.
VeChain will control the UFC’s authorized fighter rating titles, now known as the “UFC Rankings Sponsored by VeChain,” as well as a sponsored appearance within the ring at all tournaments as part of the contract.
Both firms will produce content for the UFC’s social media and other online channels, which the UFC says will impact the 200 million population, and VeChain will be advertised in the venue on big digital screens.
UFC players who participate in marketing initiatives for VeChain will be rewarded through a yearly “Brand Ambassador fund.”
One of the UFC’s major collaborations is its $175 million contract with Crypto.com, which saw the crypto exchange become the UFC’s “Virtual Currency Network Associate,” with combatants collecting fan rewards in Bitcoin (BTC) as a result of the relationship.
In November 2021, Crypto.com launched the first authorized UFC non-fungible coin (NFT) series, and the UFC has proceeded to issue more licensed NFTs in collaboration with NFT creator Dapper Labs.
Stake, a digital currency gambling and wagering network, was named the UFC’s “First Authorized Betting Partner” for Asia and Latin America in March 2021.
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