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.

Sports Illustrated parent Authentic Brands Group filed for an IPO Tuesday that could value the company at $10 billion.

The listing size is recorded as $100 million, though the amount is likely to change, per Bloomberg. Most of the money will go toward paying down debt, according to the filing, as Authentic Brands has spent roughly $2.6 billion in acquisitions since its inception in 2010.

With a portfolio of more than 30 brands, ABG brings in around $14 billion in retail sales annually.

• Last month, the retail conglomerate purchased PVH Corp.’s Heritage Brand business for $220 million, moving Izod, Van Heusen, Arrow, and Geoffrey Beene to ABG.
• In May, ABG bought outdoor gear and apparel retailer Eddie Bauer.
• ABG also owns Forever 21, Barneys New York, and Brooks Brothers.

ABG purchased Sports Illustrated from Meredith for $110 million in 2019 after SI recorded millions in ad revenue losses. The publication signed 15 licensing deals in the year following the acquisition, doubling its EBITDA.

The name, image, and likeness rights of Muhammad Ali, Shaquille O’Neal, and Julius Erving are part of ABG’s portfolio, as well.

The company’s net income jumped from $72.5 million in 2019 to $211 million in 2020, with revenue hitting $488.9 million.

Sports drink and supplement company X2 Performance raised $16 million in Series D funding. The round included star NFL running back Saquon Barkley and L Catterton, a private equity firm backed by LVMH.

Barkley joins NBA superstar Kawhi Leonard, NFL linebacker Lavonte David, and ESPN NFL insider Adam Schefter as stakeholders. 

“It’s a different value proposition than anything on the market, in terms that it enhances endurance naturally,” ESPN Insider and X2 board member Mike Tannenbaum told Front Office Sports.

Prior to the latest round, X2 had raised $29 million, according to PitchBook. 

The sports drink market is expected to reach $32.1 billion by 2026 and plenty of stars are backing brands.

• Last year, Giannis Antetokounmpo joined NFL player Aaron Donald as part owner of Ready Nutrition. 
• NBA star Luka Dončić signed a multiyear deal with BioSteel in March. The company is also endorsed by Patrick Mahomes.
• NFL rookie quarterback Trevor Lawrence inked a multiyear deal with Gatorade in April.

It will take a lot for new brands to break through. Gatorade holds a 72.1% market share of retail sales within the U.S. sports drink industry, per Euromonitor.

Coca-Cola’s Powerade ranks second with a 16.1% share.