Litecoin Foundation has decided to sponsor Ultimate Fighting Championship (UFC)
Litecoin Foundation has decided to sponsor Ultimate Fighting Championship (UFC) Title match to increase awareness about the cryptocurrency and pursue people for adoption. UFC is one of the most widely known and followed mixed martial art, and the company has completed over 25 years in business garnering worldwide viewer base of millions
Litecoin foundation made an official announcement about their partnership and sponsorship deal. The foundation throughout last year partnered with some of the most notable companies and brands and hopes to continue the trend in 2019 as well.
When asked about the unusual partnership, the foundation was quick to point out that it notices great parallels between the foundation and UFC in terms of growth and acceptance. UFC also made a mark for itself when WWE and WWF were dominating the industry, and now UFC is one of the most valuable brand names in the sports entertainment industry.
One of the Litecoin Foundation spokespeople stated,
“This is a milestone for Litecoin and cryptocurrency in general as no other coin has sponsored a UFC event to date. With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream.”
How the Deal is Going to Pan Out?
As per the deal, the logo of Litecoin would be displayed on the canvas of the octagon or fighting ring. The foundation is hoping for a necessary boost to and recognition through the main event on UFC-232. According to an official statement,
“LTC global awareness that can spark interest and drive engagement with people from all walks of life” who may not be familiar with crypto. Notably, UFC events receive “millions of viewers.”
The CEO of Litecoin foundation Charlie Lee is hoping for a long and fruitful partnership with UFC. The founder also tweeted out about the upcoming event and the partnership through his official Twitter account.
https://twitter.com/SatoshiLite/status/1077973730511314944
Charlie Lee, a former Google Software engineer founded Litecoin in 2011 as the silver coin to Bitcoin Gold. He came under a lot of flak for selling most of his LTC holding when the prices were at an all-time high. Lee suggests, his decision was made to avoid any conflict of interest within the organization.
Lee donated some of his liquidity funds to the Litecoin Foundation, which takes care of the LTC. Although Litecoin is not centralized, most of the operations are controlled and managed by Litecoin foundation.