$175 Million Deal – Crypto.com Signs Sponsorship Deal with UFC

Key highlights:

  • Crypto.com has signed a sponsorship deal with the UFC
  • According to CNBC, the two companies signed a 10-year $175 million deal
  • Crypto industry players are spending heavily on sponsorships in sports and Esports

Crypto.com signs sponsorship deal with UFC

Cryptocurrency company Crypto.com has entered a major sponsorship deal with premier mixed martial arts organization UFC (Ultimate Fighting Championship). As part of the deal, Crypto.com’s brand will be featured on various apparel that used throughout UFC events by both fighters and training staff. Crypto.com will also become the UFC’s official “Cryptocurrency Platform Partner”.

CNBC cites sources familiar with the deal as saying that UFC and Crypto.com signed a $175 million, 10-year deal. 

Here’s what Crypto.com co-founder and CEO Kris Marszalek had to say about the partnership:

“It’s a historic moment as the fastest growing cryptocurrency platform joins forces with the fastest growing sport to help accelerate the world’s transition to cryptocurrency. This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together.”

Crypto.com has a presence in almost all sectors of the cryptocurrency industry – it has a cryptocurrency exchange, Visa cards for spending cryptocurrency balances, crypto payment processing, an NFT platform and other products. CRO, a cryptocurrency that plays a big role in Crypto.com’s ecosystem, is up about 8.7% against the USD in the last week. 

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In February this year, Crypto.com announced that it had crossed the 10 million users milestone. Now, the company is trying to expand its reach by sponsoring major events in the world of sports – Crypto.com recently also unveiled a sponsorship deal with Formula 1, which is reportedly valued at over $100 million.

However, Crypto.com is not the only crypto industry player that’s spending the big bucks for sports sponsorship deals. For example, FTX signed a 19-year $135 million deal for naming rights to the arena used by the Miami Heat NBA franchise. FTX also struck a $210 million deal with leading Esports organization TSM, which is now known as TSM FTX. 

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