The UFC and Crypto.com, which ranks number one in mixed martial arts, have announced new fight night rewards for athletes that will be paid in bitcoin.
According to the announcement, the reward includes 3 bitcoins that the top 3 athletes in each UFC Pay-Per-View event will receive. The decision is based on fan votes, and anyone in the world can decide who they think deserves the most outlandish reward. However, cash rewards will continue to be applied.
“Crypto.com has been a partner of ours for less than a year, but I can already say they are one of the best. They are constantly coming up with new ideas to help us connect with our fans. The new Fan Bonus of the Night feature is a great way to get them more involved in our events, with a bonus wrestlers, too.” UFC President Dana White said.
The sport, which has 625 million fans, returns in July 2021 with millions of dollars over 10 years make a deal with Crypt.com.
“The core of our partnership with the UFC is to create the most unique and most compelling way for fans to connect with their favorite sports and athletes.said Stephen Kalevowitz, Head of Marketing at Crypto.com.
Crypto.com sees great potential in sports
Crypto.com is not only active in the UFC world, but it is also a sponsor of many notable sporting events. The company, which has millions of customers, will act as an exclusive hidden sponsor of the 2022 World Cup in Qatar. Additionally, a 20-year contract with the Los Angeles Lakers basketball team was announced late last year, with the parties agreeing to name the team’s arena Crypto.com.
According to some estimates, sports sponsorship through cryptocurrency could reach $5 billion by 2026, an increase of 778%. On the other hand, the question that arises is what is driving cryptocurrencies towards marketing within sports?
When crypto platform Voyager Digital struck a multi-year deal with the Women’s Soccer League, the company’s CEO responded.
“I see a lot of overlap between the interests of the basement and sports fans. That’s why I think more and more companies are entering this space and doing some bigger deals.” Said Steve Ehrlich, CEO of Voyager.
In addition, Voyager has partnered with the Dallas Mavericks basketball team, both NFL Rob Gronkowski and NASCAR rider Landon Cassill.
The authorities will not be excluded either
As more and more cryptocurrencies work with sports teams, global regulators are increasingly planning to tighten their controls to keep cryptocurrencies in check.
India is now subject to the country’s latest advertising policy, which has led cryptocurrencies to refrain from advertising their company in this year’s Indian Premier League (IPL) Cricket. On the other hand, the UK’s Advertising Regulatory Authority (ASA), for example, banned Arsenal fan tokens last December. The decision was based on the premise that such advertising takes advantage of consumers’ inexperience and credibility.
