Crypto.com has extended its sports marketing reach and inked a massive sponsorship deal with the top mixed martial arts organization, Ultimate Fighting Championship (UFC). Though officially not revealed, CNBC reported that the deal involved the payment of $175 million over ten years.
Announced on Wednesday, the Hong Kong-based cryptocurrency company has become the first official fight kit partner of UFC. The multi-year deal will put the branding of Crypto.com on the fight kit items used throughout UFC, including athletes’ apparel.
“This is a partnership between two companies that are the best at what they do,” UFC President Dana White said. “No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”
Indeed, UFC fights attract eyeballs across the world with an estimated fan base of more than 625 million.
Crypto and Sports
Sports marketing has always been a favorite promotion channel in the trading industry, and now crypto companies have entered this arena with deep pockets.
Earlier, crypto exchange FTX bought the naming rights of the Miami Heat stadium. In addition, many crypto companies are sponsoring European football teams and have inked big and small sponsorship presence in almost all sports events.
Moreover, Crypto.com itself is sponsoring the Aston Martin’s Formula One team, National Hockey League’s Montreal Canadiens, and Italian soccer’s Coppa Italia final. But, the latest deal will make its brand even bigger within a niche yet lucrative sports fan base.
“It’s a historic moment as the fastest growing cryptocurrency platform joins forces with the fastest growing sport to help accelerate the world’s transition to cryptocurrency,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.
“This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together.”