VeChain will become the official blockchain partner of the mixed martial arts league UFC. Collaboration includes the integration of brands into sporting events and broadcasts.
We are so excited to share this #vechain became official Tier 1 #blockchain partner @ufc in a historic global marketing partnership!
With more than 900 million households in 175 countries, $VET will receive unprecedented brand/asset integration.https://t.co/WvVC7CeMTm
— VeChain Foundation (@vechainofficial) 9 June 2022
Through the signed agreement, VeChain will receive “integrations into key UFC assets.” The company’s logo will appear on the canvas of the octagon, as well as banners that will appear on the league’s digital and social channels, including TV broadcasts.
“Through the UFC’s global presence, VeChain will increase brand awareness in approximately 900 million households in 175 countries around the world,” the press release said.
The parties did not disclose the financial terms of the agreement. But according to Sports Business Journal sources, the deal was worth nearly $100 million over a minimum five-year period.
VeChain is behind the VeChainThor blockchain platform focused on business applications. Prices of VET, the network’s native cryptocurrency, reacted to the announcement by rising to $0.032. At the time of writing, the price corrected with the asset trading close to $0.031.
Recall that in July 2021, the Crypto.com platform became the official partner of the UFC in combat equipment.
In April 2022, the organization announced that it would begin paying bonuses in bitcoin to fighters who receive the People’s Choice Award.
Source: Fork Log
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