Global adoption of cryptocurrencies depends on numerous factors: the market overall behavior, the utility of each coin, social media penetration, and the support of the community are some of them. Exposure, on the other hand, is still somewhat lacking, at least in the case of the top altcoins.
Thanks to a recent agreement with Ultimate Fighting Championship (UFC,) the Litecoin Foundation has taken a step forward and decided to have its name visible in one of sports’ most prominent and influential events in the mixed martial arts (MMA) discipline.
Right in the Middle of the Canvas
The partnership between Litecoin and the UFC, announced this week, has the intention of promoting the crypto asset to a brand new target field. The terms of the deal express that Litecoin (LTC) logo is going to be on full display for audiences in several countries, as it will be in the middle of the fighting octagon in the UFC 232 event.
The UFC 232 will host nothing less than a rematch between Jon Jones, an ex UFC light heavyweight champion, and Alexander Gustafsson, one of the top fighters in the division. The combat will take place in the State of California, the United States of America, on December 29th.
According to the Litecoin Foundation, the digital asset will be the first cryptocurrency that has ever sponsored a UFC bout. Such an occurrence will only help Litecoin spread its name among newer audiences, raising awareness and driving interest in LTC.
“Another Sign towards the Mainstream”
“With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream,” the Foundation stated in a release. According to the Litecoin Foundation, the plan and the intentions are that it can sponsor more UFC events in the future.
Whilst Litecoin is the first crypto asset to sponsor the UFC, it is not the first one to be linked with professional mixed martial arts, as Canadian fighter Rory MacDonald wore equipment branded with the Dash cryptocurrency in Bellator’s 192 bout around this time in 2017, whilst a former champion in the lightweight division, Michael Chandler, signed a similar sponsorship deal with the CoinLion platform at the start of the current year.
A little bit more about Litecoin
Litecoin, abbreviated LTC, is the eight cryptocurrency according to the total market cap ranking. At the moment of writing this piece, it is worth $28.42, down 7.49 percent in the last 24 hours. Its total market cap is $1.698.581.704, and the trading volume in the last 24 hours is $435.830.337. There is an amount of 59.759.984 LTC currently in circulation.
A little bit more about the UFC
UFC stands for Ultimate Fighting Championship. It is an American MMA (mixed martial arts) promotion company, arguably the largest and most widely recognized in the planet. It features the best fighters and hosts events all over the world. To this date, it has organized more than 400 events. Dana White is its President.
By Andres Chavez