Besides that horrific injury suffered by Connor McGregor, did you notice anything else about UFC 264?
Okay, what about now? That brand you see emblazoned almost everywhere you looked is none other than Crypto.com. The same Crypto.com that seems to be in the news more often lately after announcing other partnerships.
“This is a partnership between two companies that are the best at what they do.”
UFC President Dana White
Let’s get straight into the deal. According to CNBC, it’s worth an estimated $175M over 10 years. Crypto.com (which reportedly paid $10M just for its own naming rights) will be branded on gear worn by UFC fighters and their respective corner teams during competition. They will be featured across all social media platforms and during all UFC Pay-Per-View (PPV) events. The deal will give Crypto.com exposure to a fanbase that reportedly exceeds 625 million eyeballs. UFC 264, which took place on July 10th, 2021, highlighted by the main event of Dustin Poirier v. McGregor, was the first major UFC competition where the branding deal took effect.
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“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.”
Kris Marszalek, co-founder and Chief Executive of Crypto.com
While the deal does not offer the fighters a cut of the pie, they are free to negotiate side deals with Crypto.com as paid ambassadors according to Marc Raimondi of ESPN. The reason the UFC can make unilateral agreements with sponsors minus fighter inclusion is because the UFC is the only major sports organization in the United States where no union exists to represent the shared interests of the fighters.
Crypto.com
Not its first major deal. The crypto trading platform not that long ago announced a partnership worth $100M with Formula 1. Founded in 2016 with a current user base of over 10 million worldwide, it boasts a host of other partnerships with organizations like the recent Stanley Cup finalists Montreal Canadiens and Italy’s Serie A. “If we had talked a couple of years ago, crypto might not have been on the radar, but it’s sort of a sign of the times” says UFC COO Lawrence Epstein.
The crypto sphere continues its steady infiltration into sports and entertainment with big ticket deals and partnerships. The Portland Trail Blazers signed a deal with StormX while the Miami Heat signed a naming rights deal with FTX.us. Tezos, a cryptocurrency, also partnered with McLaren racing to be its brand sponsor across their renowned driver lineups. The UFC also happens to have an exclusive agreement in place with Dapper Labs. You may recognize them as the brand behind the growing popularity of the NBA’s Top Shot, a Non-Fungible Token (NFT) marketplace.
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