In the race for better marketing tactics, Litecoin Foundation has become the first cryptocurrency company to enter the lucrative world of the Ultimate Fighting Championship (UFC), the world’s leading mixed martial arts organization.
Litecoin has announced that it will sponsor the upcoming light heavyweight title fight between Jon Jones and Alexander Gustafsson on December 29.
“Throughout the past year, Litecoin and the Litecoin Foundation have had the opportunity to partner with some great companies and brands. While we will continue to explore these opportunities in 2019, there are several reasons why we think it makes sense for Litecoin to step into UFC’s world-famous Octagon now,” Litecoin noted in the official announcement.
Excited to announce that the Litecoin logo will be on the canvas as the Official Cryptocurrency Partner of @UFC 232 on 12/29 in Inglewood CA! Read more: https://t.co/y4yvPWb6rj pic.twitter.com/ddML54j5GH
— Charlie Lee [LTC⚡] (@SatoshiLite) December 26, 2018
Tapping a Wide Audience Base
Sports events are believed to be one of the best platforms for advertisers. In 2017, the global sports industry was valued at $557 billion, while North America alone held 33 percent of the market, according to the Business Research Company, a market research and intelligence firm. While the United States’ annual SuperBowl event dominates the list of the most expensive ad slots in the world, fighting events are also considered to be very popular with advertisers, and big names always pop up in the boxing and the UFC’s octagon rings.
Litecoin’s team has confirmed that the coin’s logo will appear on the fighting ring and the company is optimistic that this will attract the attention of millions of viewers towards the coin.
Sports and Crypto
The cryptocurrency community is no stranger to sports advertising and celebrity endorsements. Paris Saint-Germain (PSG), one of the major football clubs in France, announced its partnership with blockchain platform Socios.com in September to launch a token ecosystem. It also announced the launch of Fan Token Offering, which will give coin holders access to exclusive club merchandise.
The blockchain firms are also targeting major football clubs across the English Channel as FansUnite, a blockchain protocol for the sports betting and sports data industries, partnered with Leicester City Football Club to support the team during the 2018-2019 season.
Apart from the clubs, the names of many sports legends, like Floyd Mayweather, are synonymous with ICO endorsements.