Sustainability-focused blockchain foundation VeChain (VET) has signed a multi-year agreement with the UFC, the world’s leading mixed martial arts (MMA) organization.
The agreement makes VeChain the first “official tier 1 blockchain partner“, who will receive marketing exposure to UFC assets and events, according to a June 9 press release.
The deal is valued at $100 million over a minimum of five years, according to a Sports Business Journal report.
Paul Asencio, UFC senior vice president of global partnerships, said:
“VeChain’s expertise in using real-world blockchain applications to help the public and private sector achieve their carbon neutral goals is an effort we are proud to support.
We look forward to working with VeChain to leverage the global popularity of UFC to promote a positive message that blockchain technology can be used to protect our environment for future generations.”
The VeChain Foundation has developed the VeChainThor blockchain, a smart contract platform compatible with the Ethereum Virtual Machine (EVM). Vechain has been deployed in multiple industries including supply chain, sustainability initiatives, carbon emissions management, medical, energy, and more.
VeChain has already established partnerships with Walmart, Bayer, BMW Group, BYD Auto, among others. It also counts PwC and DNV among its strategic partners.
As part of the deal, VeChain will receive the rights for the official UFC Fighter Ratings title, which will become “UFC Rankings Powered by VeChain“, according to the press release.
VeChain will also have its branding in 42 UFC Octagon events and in the 10 events of the Dana White’s Contender Series. In addition, the blockchain will be present on the Fight Decks of the UFC, the LED screens placed around the Octagon.
VeChain and the UFC will also collaborate on the development of content featuring UFC athletes, which will be broadcast on UFC social networks. The partnership includes an annual Brand Ambassador Fund to provide UFC athletes with paid marketing opportunities.
VeChain will unlock its trademark rights on June 11 at the event “UFC 275: TEIXEIRA vs. PROCHAZKA ” at the Singapore Indoor Stadium.
The UFC claims 688 million fans worldwide, and its live events are broadcast to approximately 900 million TV households in more than 170 countries. Some of its previous crypto partnerships include those with Crypto.com and Socios.com.
Socios.com launched a token for UFC fans in June 2021. In November 2021, the UFC extended its long-term partnership with Crypto.com to launch UFC-exclusive non-fungible tokens (NFTs) . In April, in conjunction with Crypto.com, the UFC announced new bounties for UFC athletes on Fight Nights, which will be paid out in bitcoins.