- UFC fans can vote for three winners of Crypto.com bonuses totaling $60,000 in each pay-per-view night.
- Crypto.com is not the only crypto platform using sports sponsorships and deals to build its brand.
Crypto.com's partnership promotions continue to grab headlines.
Starting on Saturday, Ultimate Fighting Club (UFC) fighters who gain the fans' admiration will be able to earn some extra money -- paid out in Bitcoin (BTC). As part of Crypto.com's partnership with the top mixed martial arts organization, fans will vote for three fighters to receive the "fan bonus of the night" in each pay-per-view night.
The new promotion is part of a $175 million deal signed last year between UFC and popular crypto app and exchange, Crypto.com. "Crypto.com has been an official UFC partner for less than a year, and I'm telling you they are already one of the best partners we've ever had," said UFC President Dana White in a press release.
UFC's crypto bonuses
The Bitcoin prizes will come in addition to performance bonuses awarded by the UFC President after each event. The exact amount of Bitcoin will depend on the exchange rate when the prizes are paid out.
The total of $60,000 in Bitcoin prize money will be broken down as follows:
- First place: $30,000
- Second place: $20,000
- Third place: $10,000
The first new prizes will be awarded on Saturday, April 9, at a fight in Jacksonville, Florida. Voting will take place on a Crypto.com fan bonus web page. Voting ends 60 minutes after the final fight of the night. Voters will be entered into a giveaway draw for the chance to win early access to NFT drops, UFC store gift cards, or a three-month UFC fight pass.
Sports-crypto partnerships are booming
The UFC deal is just one of a string of Crypto.com sports partnerships. Toward the end of last year, its native Cronos (CRO) token shot up 180% in a month. This, in part, was on news that Crypto.com had bought the naming rights to the Staples Center. More recently, FIFA became a sponsor for the 2022 World Cup in Qatar.
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Crypto.com also has sponsorship deals and partnerships with various sports teams, including basketball, ice hockey, Australian football, Formula 1, and others. And several top crypto exchanges are pursuing similar strategies. From Coinbase's bouncing logo ad at this year's Super Bowl to FTX's deals with major athletes such as Tom Brady and Steph Curry, crypto-related brands are a growing part of the sports sponsorship world.
It's part of a wider race as crypto platforms compete for market share and brand recognition in what is a relatively new industry, and sports is a key tool in their armories. Some countries, such as the U.K., have attempted to control crypto advertising and sponsorship deals. Nonetheless, blockchain companies are taking every opportunity to get their names out there. Indeed, Nielsen's latest global sports marketing report predicts that crypto-related companies will spend $5 billion on sports sponsorships in 2026. We can certainly expect a lot more crypto sports deals in the coming months and years.
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Emma Newbery owns Bitcoin and Cronos.
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