UFC inks $175-million sponsorship deal with Crypto.com

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Quote from: JeromeTash on July 08, 2021, 04:38:59 PM

I know this is not directly related to the UFC deal, but I no longer get so excited over such news (not in a bad way Wink

). Before a testimonial boxing match last month between Mayweather vs Logan Paul. Do you guys know what happened? Grin

Of all the establish crypto coins available, a shitcoin known as ethereum Max got accepted for ticket purchases.

Worse still, Mayweather who I consider to be one of the richest sportsmen stooped so low to endorse the shitcoin and even had it advertised on the shorts he wore during the fight night

On the shorts of Logan, there's also Blockfi there so there's the effort to make it a trend for cryptocurrency to be popular. Advertising on sports events must be very effective to spread the word about the crypto.com company being one of the largest cryptocurrency trading platforms.

They are all not related to sports betting but they consider an advertising deal with UFC. Not going to be surprised crypto.com will partner up with sportsbook.

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Quote from: SFR10 on July 08, 2021, 09:32:20 AM

Quote from: Darker45 on July 07, 2021, 10:32:03 PM

I wasn't expecting that the deal is this huge.

You have a point but I think it'll be paid in installments as opposed to paying that huge amount upfront ^{[I could be wrong]}. Regardless of how the structure of that deal is, IMO the huge amount that Crypto.com will pay is justified by the fact that they'll potentially open their doors to "625 million people" in comparison to the "10m+ users" that they already have ^{[even a 10% conversion of that userbase would come out as a great deal]}.

Yeah, it is probably worth it. Plus the deal is going to last for over 10 long years. That's a lot of publicity for the brand. If it doesn't catch much attention for the first year or two, there's still 8 more years ahead.

Given that the sponsorship contract is for at least 10 years, I guess the $175 million won't be a one-time payment.

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Does anybody know if that deal will be paid directly in BTCitcoin?

I don't think so. If it were to be paid in Bitcoin, it should have already been emphasized. The mere fact that the $175 million-deal is to be paid in Bitcoin is worth a separate headline. Since there's no talk about it, it must have been in USD.

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I know this is not directly related to the UFC deal, but I no longer get so excited over such news (not in a bad way Wink

). Before a testimonial boxing match last month between Mayweather vs Logan Paul. Do you guys know what happened? Grin

Of all the establish crypto coins available, a shitcoin known as ethereum Max got accepted for ticket purchases.

Worse still, Mayweather who I consider to be one of the richest sportsmen stooped so low to endorse the shitcoin and even had it advertised on the shorts he wore during the fight night

SFR10

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Quote from: Darker45 on July 07, 2021, 10:32:03 PM

I wasn't expecting that the deal is this huge.

You have a point but I think it'll be paid in installments as opposed to paying that huge amount upfront ^{[I could be wrong]}. Regardless of how the structure of that deal is, IMO the huge amount that Crypto.com will pay is justified by the fact that they'll potentially open their doors to "625 million people" in comparison to the "10m+ users" that they already have ^{[even a 10% conversion of that userbase would come out as a great deal]}.

Does anybody know if that deal will be paid directly in BTCitcoin?

TheUltraElite

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This is majorly done to push the partnerships with casinos that deal in MMA and like others have said, make a public announcement telling others that they will start accepting cryptocurrencies for sports betting. They obviously know that many of the users who watch these matches are also taking interest in cryptocurrency and since the biggest outflow of crypto from hodlers is gambling and trading, running the casino becomes a biggest mode of income from this target audience.

Dont think that the wrestlers themselves know about crypto - they have just given their permission to use their names on the marketing list. These players although very famous lack proper knowledge and education and that is how these groups that run the games can manipulate and exploit their names.

Although it has its dark sides, these partnerships help pushing crypto to be used more acceptably and help drive the price, so I am not complaining.

Darker45

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Quote from: TopTort777 on July 07, 2021, 10:59:16 AM

Perhaps they would announce that after their nearest event (Conor McGregor vs Dustin Poirier trilogy). They could have paused that announcement not to steal attention from event. But this is just my predictions.

The announcement has been made already. And, yes, the Crypto.com brand will indeed debut on the UFC come Saturday, July 10, in UFC 264 which is headlined by Poirier-McGregor III.

Quote from: tippytoes on July 07, 2021, 02:37:45 PM

It is already on their site (News section) - https://www.ufc.com/news/ufc-and-cryptocom-announce-historic-partnership. With that multi-million dollar deal, definitely, they will post such news on their website. I know one of the casinos here, Stake is already a UFC betting partner. And now, UFC partnered with a trading platform. Seems that they do believe with crypto business. This is another step to encourage UFC fans to check out crypto.

Thanks for the link.

I wasn't expecting that the deal is this huge. I've read headlines about the partnership but I was only thinking it was the same when Litecoin also sponsored a UFC event. I was surprised it is a multi-million dollar deal.

Crypto.com has a pretty aggressive marketing approach, especially in sports.

Crypto.com has led the industry in sports sponsorships, last week announcing that the company became the first Official Cryptocurrency Sponsor and NFT Partner of F1®. Earlier this year, Crypto.com became the first crypto platform to partner with an F1 team (Aston Martin Cognizant Formula One), the first to partner with an NHL team (Montreal Canadiens), and the first to partner with a professional sports league (Lega Serie A).

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Quote from: TopTort777 on July 07, 2021, 10:59:16 AM

Such news should be posted on https://www.ufc.com/ webpage also, but so far there is not a single line about that sponsorship. Nothing is on their social media account either.

Perhaps they would announce that after their nearest event (Conor McGregor vs Dustin Poirier trilogy). They could have paused that announcement not to steal attention from event. But this is just my predictions.

It is already on their site (News section) - https://www.ufc.com/news/ufc-and-cryptocom-announce-historic-partnership. With that multi-million dollar deal, definitely, they will post such news on their website. I know one of the casinos here, Stake is already a UFC betting partner. And now, UFC partnered with a trading platform. Seems that they do believe with crypto business. This is another step to encourage UFC fans to check out crypto.

so98nn

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I think same partnership was done with the use of players name in the fantasy gaming platform named as footballcoin. I am not sure how successful it was, but they don’t have anything related to actual gamers now a days. I mean according to law you have to make contracts with players or organisations to use the sponsor names.

The meaning of above context is to express the views whether the crypto.com partnership with UFC will bring anything big in the market or not is a question mark. Looking at the money involved it does seem serious stuff.

mk4

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Weirdly enough, there's a decent overlap between both cryptocurrency fans and UFC/MMA fans. Ben Askren, a well respected(before his fight with Jake Paul, because he damaged the image of the UFC community after his "loss") wrestler in the UFC, is a huge Bitcoin advocate.

Along with that, since the UFC is considered a sport, some of the UFC stars are sponsored by gambling sites(where bitcoin/crypto can definitely be useful).

TopTort777

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Such news should be posted on https://www.ufc.com/ webpage also, but so far there is not a single line about that sponsorship. Nothing is on their social media account either.

Perhaps they would announce that after their nearest event (Conor McGregor vs Dustin Poirier trilogy). They could have paused that announcement not to steal attention from event. But this is just my predictions.

titular

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"Stop using proprietary software."

I was reading about this earlier. This is the largest sponsorship the UFC currently has.

This sends quite the message.

With the amount of people that watch UFC events, this will surely attract a lot of attention.

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Details of the deal have not yet been made public, but according to sources, it is worth $ 175 million and is valid for up to 10 years.
Ultimate Fighting Championship is a global martial arts organization that has announced that it will continue to immerse itself in the cryptocurrency industry by announcing a sponsorship deal with the cryptocurrency exchange.
According to CNBC, the UFC announced on Wednesday that it has agreed with Crypto.com, one of the largest cryptocurrency trading platforms in the world, to sponsor fighters' uniforms.
The contract is worth $ 175 million and will last for more than 10 years.
As part of the agreement, the Crypto.com brand will appear on clothing worn by athletes during competitions, as well as clothing worn by the training staff. In addition, Crypto.com has acquired the rights to the new UFC sponsorship category known as the "cryptocurrency platform partner".
Kris Marszalek, founder and CEO of Crypto.com, called the UFC deal "a historic moment" and said it would help the sports industry and "accelerate the world’s transition to cryptocurrency."
The deal "is just the beginning of a long relationship with UFC," said Ari Emanuel, CEO of the Endeavor Talent Agency, which bought a stake in the UFC in April.

Source: https://cointelegraph.com/news/ufc-inks-175-million-sponsorship-deal-with-crypto-com

Topic: UFC inks $175-million sponsorship deal with Crypto.com (Read 103 times)