UFC secures five-year deal with blockchain company VeChain reportedly worth $100m 

Blockchain company VeChain signed a deal with UFC [Image via @vechain.updates on Instagram]
Blockchain company VeChain signed a deal with UFC [Image via @vechain.updates on Instagram]

One of the leading layer 1 blockchain ecosystems, VeChain, signed a $100 million sponsorship deal with the UFC for five years. The seven-year-old crypto project aims to use the MMA promotion's worldwide reach to possibly garner more users.

Through the company's first sports sponsorship, VeChain will get unprecedented integration into many of the promotion's core assets.

The blockchain ecosystem will gain titleship in the fighter rankings. After the integration, the fighter rankings will be renamed 'UFC Rankings Powered by VeChain'.

VeChain will also be featured in the world-famous octagon during all the 42 annual events and the ten-episode 'Dana White Contender Series'. Vechain also stands to make frequent appearances on the fight deck LED boards positioned around the octagon.

The Blockchain giant will also work with the promotion on many custom and original content bits featuring popular fighters.The blockchain ecosystem is also expected to provide paid marketing opportunities to various fighters.

The VeChain partnership will debut on the UFC 275 fightcard headlined by Glover Teixeira and Jiri Prochazka.

VeChain specializes in helping enhance the supply chain management of different organizations using distributed ledger technology. VeChain is one of the most widely adopted layer 1 solution blockchains in the world.

VeChain is the second blockchain partnership of the Ultimate Fighting Championship

Crypto.com inked a massive $175 million kit deal with Dana White's company in 2021 becoming the promotion's global kit partner. As per the deal, the crypto currency platform's logo was integrated into the ringwalk jerseys of all the fighters.

Later in 2022, Crypto.com introduced three new post-fight 'Fan Bonuses' for the fighters. As per the new award, fans can vote for three fighters from the pay-per-view bouts, with the winners getting cash prices.

The bonuses will be in the form of the popular crypto currency Bitcoin. The first, second and third place winners, as per the votes, were to receive bitcoin worth $30000, $20000 and $10000 respectively.

This bonus was introduced in addition to the already existing official performance bonuses. The 'Fan Bonus' was introduced for the first time on the UFC 273 fight card headlined by the title fight between Alexander Volkanovski and 'The Korean Zombie'.

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Edited by Avinash Tewari
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