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Monday, February 26, 2024
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Crypto Exchange Scores Massive UFC Deal

  • The Ultimate Fighting Championship inked a sponsorship deal with Crypto.com for a reported 10 years and $175 million.
  • Crypto.com signed a $100 million deal with Formula 1 last week.
Crypto.com/Design: Alex Brooks

If you want to find a platform for purchasing cryptocurrency, just turn on your favorite sport.

The Ultimate Fighting Championship inked a 10-year, $175 million deal with Crypto.com that will put the trading platform’s branding on fighters’ apparel, training staff clothing, and in the Octagon fighting ring.

In May, UFC announced plans to roll out a blockchain-based token in coordination with Socios and Chiliz.

Crypto companies are charging into sports as they look for mainstream exposure.

  • Crypto.com signed a five-year, $100 million deal with F1 last week. It already has partnerships with Serie A and the Montreal Canadiens.
  • Also last week, FTX signed a sponsorship deal with power couple Tom Brady and Gisele Bündchen, and StormX bought rights to the Portland Trail Blazers’ jersey patch in a first for the NBA.
  • eToro has sponsorship deals with numerous European soccer teams, particularly in the Premier League and Bundesliga.
  • FTX won the naming rights to the Miami Heat’s arena on a 19-year, $135 million deal. The San Antonio Spurs said they would consider crypto sponsors after its deal with AT&T expires next year.

The deal begins Saturday at UFC 264, which is headlined by the fight between Conor McGregor and Dustin Poirier. April’s UFC 261 had over 700,000 pay-per-view buys.

UFC fighters are not unionized and will not get a cut from the deal. They can pursue their own partnerships with Crypto.com and become paid ambassadors.

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