Know everything you need to know about the deal between UFC and Crypto.com
Back in July of this year, the UFC signed a deal Crypto.com, a cryptocurrency platform. The agreement which is worth roughly $175 million, is the biggest deal that the company has ever signed. The agreement secured branding rights to Crypto.com on the kits worn by the UFC fighters and corner team. Moreover, the branding would also be done inside the octagon.
In addition to this, Crypto.com will have a presence in the content posted by UFC on digital platforms including live broadcasts, PPV’s and others. The cryptocurrency platform has also been named the official cryptocurrency platform for the UFC.
The tie-up gives Crypto.com visibility to over 625 million people who watch the UFC. Moreover, access to 150 million social media followers. The deal has been signed for 10 years. which means the UFC will continue with Crypto.com branding until 2031.
🚨BIG NEWS🚨@UFC & https://t.co/vCNztABJoG announce historic partnership
— Crypto.com (@cryptocom) July 7, 2021
✅ https://t.co/vCNztABJoG is UFC’s 1st Official Crypto Platform Partner 🥊
✅ https://t.co/vCNztABJoG is also UFC’s 1st Global Official Fight Kit Partner 👕
📺 See us at #UFC264!https://t.co/0fRyH4Vnkv pic.twitter.com/KirGbh3wIH
What is Crypto.com?
Crypto.com is one of the world’s biggest cryptocurrency platforms. It allows the users to buy, sell and trade cryptocurrency. Moreover, what sets Crypto.com apart from the rest of the trading platforms is the fact that it offers its users a Visa card.
The users can use their Visa card to spend their cryptocurrency and make it more accessible just like regular currency. Crypto.com has been making big money moves when it comes to sponsoring and signing deals to promote the platform.
Crypto.com has a deal in place with Formula One as well. Moreover, shocking news broke the internet yesterday, when it was announced that the legendary Staples Center in Los Angeles will be renamed to Crypto.com arena.
The Staples Center currently serves as the home to NBA teams of LA Lakers and LA Clippers. Just like the platform, UFC have also been working extensively to bring in big-money deals. Their recent shift from Reebok to Venum as their apparel sponsor is an example of the same.
Why did UFC move away from Reebok and tied hands with Venum?
Reebok who were the apparel sponsor of UFC before their recent shift to Venum were working with the company for six years. The deal between UFC and Reebok was signed in 2014 and was due to expire in 2021. Although the option to renew the deal was on the table, the UFC decided against it.
UFC went and joined hands with Venum in a deal which is said to be for around three years. As per reports, the deal isn’t as lucrative as the Reebok deal. However, the short tenure of the deal attracted the promotion. Moreover, if both parties benefit from the deal, an extension is also possible.
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