VeChain becomes official Layer 1 blockchain partner of UFC, VET price jumps 7%

VeChain becomes official Layer 1 blockchain partner of UFC, VET price jumps 7%

By Benson Toti - min read

VeChain Foundation, the organization behind the smart contracts layer 1 blockchain VeChainThor, has announced a groundbreaking multi-year partnership with the world’s premier mixed martial arts (MMA) organization UFC.

As a result of this first-of-its-kind deal, VeChain is now the official Layer 1 Blockchain Partner for UFC – the first ever for the global brand.

 “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 Sunny Lu, co-Founder and CEO of VeChain. 

Commenting on the deal, UFC Senior VP of Global Partnerships Paul Asencio said the partnership is strengthened by “VeChain’s expertise in using real-world blockchain applications to help the public and private sector achieve their carbon-neutral goals.

Noting that this was an effort UFC was proud to associate with, he added:

We’re looking forward to working with VeChain to leverage UFC’s worldwide popularity to promote a positive message that blockchain technology can be used to protect our environment for future generations.

Branded integrations and other benefits

VeChain will use the partnership to integrate into some of UFC’s major assets, including live events, original content distribution and promotions across the sports body giant’s digital and social channels.

VeChain will own the rights to the UFC Rankings Powered by VeChain, the official titleship rankings. The platform will also have brand presence at the iconic Octagon®, benefiting from visibility at all of UFC’s 42 annual events.

Access will also be granted to UFC’s Performance Institute and APEX, where VeChain could hold corporate activities and events.

Leveraging the deal could see VeChain get brand visibility across 175 countries and 900 million TV households, according to details of the partnership shared on Thursday.

Promotions and an athlete ambassador fund will also see UFC fighters benefit from paid marketing events. Fans will benefit from sweepstake promotions.

Crypto sports partnerships on the rise

The partnership with UFC adds to the many sports deals crypto companies have sealed over the past few years. In 2021, crypto platforms struck 72 sports sponsorship deals, with millions of dollars poured into multi-year arrangements as crypto met sports glitz.

For VeChain, Saturday, 11 June marks its brand debut at UFC® 275: TEIXEIRA vs PROCHAZKA. The event, the first numbered UFC PPV in Southeast Asia, will be held at the Singapore Indoor Stadium.

The price of VET, the native VeChain token, has jumped 7% after the news. VET/USD currently trades around $0.03.