VeChain, the enterprise-grade layer 1 smart contract platform, announced a partnership with the world’s largest and most popular Mixed Martial Arts (MMA) organization, the Ultimate Fighting Championship (UFC).
According to the announcement, VeChain will become the official blockchain partner of the UFC. The partnership provides for the integration of brands in sporting events and broadcasts.
Among other brand activations, UFC and VeChain will create VIP sweepstakes promotions for fans to participate in the biggest UFC events.
VeChain joins the UFC
In return, VeChain will receive “integrations into the main assets of the UFC”. Among other things, the company’s logo will be stamped on the screen of the octagon as well as the signs that will appear on the league’s digital and social channels. This includes, for example, broadcasts of the event on television.
“Through the UFC’s global presence, VeChain will increase brand awareness to nearly 900 million TV homes in more than 170 countries,” the statement said.
The financial terms of the deal were not disclosed. However, according to Sports Business Journal sources, the deal totals nearly $100 million over five years.
As Sunny Lu, co-founder and CEO of VeChain, highlighted, the partnership marks a historic moment for the platform:
“It is a historic moment as VeChain, the Public Tier 1 Blockchain with the highest enterprise adoption, joins forces with the fastest growing sport to raise awareness that blockchain technology is critical to helping achieve key global goals such as sustainability.”
According to Lu, this is just the beginning of a multi-year relationship with the UFC. Meanwhile, Paul Asencio, UFC Senior Vice President of Global Partnerships, highlighted VeChain’s leadership:
“VeChain is a globally recognized leader in blockchain technology. So we couldn’t be happier to welcome you as an Official UFC Marketing Partner.”
For Asencio, VeChain’s experience in using blockchain to help the public and private sector achieve their carbon neutral goals is an effort the UFC is proud to support.
About VeChain (VET)
VeChain is a blockchain platform that has international offices in Luxembourg, Japan, China, Singapore, France, Italy, Ireland, SanMarino and the United States.
The VeChainThor public blockchain has been commercially adopted at corporate and government levels in various industries.
The platform’s native token is VET which, at the time of writing, is priced at $0.03.