VeChain Seals $100M brand sponsorship deal with UFC
June 10, 2022 10:24 AM
VeChain will see its brand incorporated into various marketing materials to reach a wider audience after it seals a $100 million sponsorship deal with UFC.
The multi-year deal will open VeChain’s brand across multiple UFC marketing assets and reach an estimated audience of about 900 million who watch and follow the events globally.
VeChain Foundation, a blockchain logistic firm has penned a multi-year marketing sponsorship deal with the Ultimate Fighting Championship (UFC) worth approximately $100 million, which makes it UFC’s first-ever Layer 1 blockchain partner.
The Ultimate Fighting Championship (UFC) being the largest event organizer and promoter for Mixed Martial Arts (MMA), this means VeChain’s marketing brand will be integrated across the UFC in live events, in-arena promotion, social media and many more marketing channels.
The deal valued at an estimated $100 million will be a minimum five-year partnership according to reports quoted by Sports Business Journal. UFC’s Senior Vice President of Global Partnerships Paul Asencio said the UFC’s sponsorship revenues are up by 30% from after record-breaking 2021 as a result of the deal with VeChain.
The sponsorship deal kicks off immediately and VeChain’s marketing assets and brand will start appearing Saturday June 11 in a UFC event set to take place in Singapore.
However, the VeChain's partnership with UFC will see a big shift from the business centered layer 1 ecosystem with an emphasis on supply chain tracking economical first quarter. According to financial report published in May, it shows VeChain Foundation only spent close to $4 million in Q1 with marketing budget spent less than $660,000. it also did amass a huge $1.2 billion over same period.
According to VeChain the partnership deal is so far “one of the deepest integrations within premier UFC assets of any sponsor in UFC history,” with the UFC estimating VeChain’s brand will reach 175 countries globally.
VeChain will own UFC's official fighter rankings titleship as part of the deal, the titleship now called the “UFC Rankings Powered by VeChain” along with its brand being present inside the fighting ring at all events for the duration of the partnership.
The deal will further see VeChain be promoted in-venue on prominent digital displays and both companies will create content for the UFC’s social media and other digital platforms which the UFC estimates will hit a target audience of about 200 million people.
A Brand Ambassador program fund will also offer paid opportunities to UFC athletes who choose to partake in marketing activities for VeChain.
The UFC has long partnered blockchain and crypto companies, with companies such as crypto.com which is still its largest deal till date valued at $175 million. In March 2021, UFC also announced a deal with Stake, a crypto centered betting and casino platform became as first official betting partners for Latin America and Asia.