Layer 1 digital cash According to an official announcement released on Thursday, VeChain and the sports powerhouse Ultimate Fighting Championship have formed a marketing and global promotion partnership.
According to estimates, the arrangement is worth $100 million and will cover five years.
The Ultimate Fighting Championship is the first layer 1 blockchain network to collaborate with VeChain. Sunny Lu, co-founder and chief executive officer of the protocol, views the sale as a purposeful move to increase the chain’s brand awareness and worldwide reach.
Lu further stated:
” … Joins forces with the fastest growing sport to raise awareness that blockchain technology is critical in helping deliver major global objectives, such as sustainability. This is just the beginning of a multi-year relationship with UFC, and we really look forward to changing the world together.”
Since its establishment in 2015, the blockchain has partnered with a number of industry leaders, including BMW Group and Walmart. The protocol has offices in Japan, France, and the United States, among others.
Due to the franchise’s immense popularity and worldwide relevance, the UFC presents a unique platform for VeChains’ growth. Reportedly, UFC broadcasts and events are accessible to 900 million households in 175 countries.
Under the terms of the agreement, VeChain will have access to the official UFC fighter rankings. In addition, UFC 275 will include materials and assets bearing the VeChain brand. This event is the first of its kind in Southeast Asia.
Finally, the agreement gives advantages to fighters via a yearly Brand Ambassador fund.
The UFC also has a shirt contract with the popular exchange crypto.com. Both transactions represent a growing trend of blockchain-powered businesses forming partnerships with sports industry stakeholders.
Algorand, Binance, and Tezos, to name a few, have formed partnerships with athletic organizations like as FIFA and football leagues.