The multi-year deal was reportedly worth $100 million.
VeChain has signed on to be the first official layer 1, or base layer, blockchain partner for mixed martial arts organization UFC.
According to an announcement post, the partnership includes a variety of integrations into UFC live events and original content for its digital and social media channels, starting Saturday, June 11.
- Sports Business Journal sources said the deal was worth nearly $100 million across a minimum five-year deal period. CoinDesk reached out to VeChain for comment but hadn’t received a response by press time.
- VeChain’s VET token has moved modestly higher on the news, now up 2.4% per CoinDesk data.
- The partnership marks the latest crypto-centric move for the UFC. In April, Crypto.com announced it would pay bitcoin (BTC) bonuses to UFC fighters.
- Under the multi-year agreement, VeChain will have the rights for official UFC fighter rankings, providing visibility across live broadcasts and the UFC’s online presence. VeChain will also have a branded presence inside the UFC’s Octagon at 42 annual events and the 10-event Dana White Contender Series.
- The two will collaborate on a range of original content featuring UFC talent and athletes, and an annual Brand Ambassador fund will offer paid marketing opportunities to UFC athletes.
- VeChain is a blockchain platform specializing in real-word blockchain applications such as supply chain management and business processes. Previous partnerships have included Walmart, Bayer and BMW Group, among others.
- “It is a historical moment when VeChain, the layer 1 public blockchain with the most enterprise adoption, joins forces with the fastest growing sport to raise awareness that blockchain technology is critical in helping deliver major global objectives, such as sustainability,” said VeChain co-founder and CEO Sunny Lu.
The article is originally published in Coin Desk