UFC to pay fighters crypto bonuses
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Crypto.com’s partnership promotions continue to make headlines.
Key points
- UFC fans can vote for three winners of Crypto.com bonuses totaling $60,000 on each pay-per-view night.
- Crypto.com is not the only crypto platform to use sports sponsorships and offers to build its brand.
Starting Saturday, Ultimate Fighting Club (UFC) fighters who garner admiration from fans will be able to earn extra money, paid for 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 of the Night Bonus” on each pay-per-view night.
The new promotion is part of a $175 million deal the UFC signed last year with popular crypto app and exchange, Crypto.com. “Crypto.com has been an official partner of the UFC for less than a year, and I tell you they are already one of the best partners we’ve ever had,” the UFC President said. Dana White, in a press release.
UFC Crypto Bonuses
The bitcoin prizes will be in addition to the 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 $60,000 in Bitcoin prize money will be split 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 webpage. Voting ends 60 minutes after the last fight of the night. Voters will be entered into a raffle for the chance to win early access to NFT drops, UFC store gift cards, or a three-month UFC fight pass.
Sports-crypto partnerships explode
The UFC deal is just one of Crypto.com’s many sports partnerships. Towards the end of last year, its native token Cronos (CRO) soared 180% in one month. This, in part, was due to news that Crypto.com had purchased the naming rights to Staples Center. More recently, FIFA became a sponsor of 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 rules football, Formula 1 and others. And several major crypto exchanges are pursuing similar strategies. From Coinbase’s bouncing logo announcement at this year’s Super Bowl to FTX’s deals with major athletes such as Tom Brady and Steph Curry, crypto-related brands are increasingly part of the world of sports sponsorship.
It’s part of a larger race as crypto platforms vie for market share and brand recognition in what is a relatively new industry, and esports is a key tool in their arsenals. Some countries, like the UK, have attempted to control crypto advertising and sponsorship deals. Nevertheless, blockchain companies take every opportunity to get their name out there. Indeed, Nielsen’s latest Global Sports Marketing Report predicts that crypto-related businesses will spend $5 billion on sports sponsorships in 2026. We can certainly expect a lot more crypto sports deals in the months and coming years.
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