The Ultimate Fighting Championship (UFC) today announced it will start paying fighters in Bitcoin (BTC) as part of its continued partnership with leading crypto exchange CryptoCom.
UFC to Pay $60k Bonuses in BTC
The payout will involve three bitcoin bonuses that will be given to the top three athletes at every UFC Pay-Per-View (PPV) event and winners will be decided through fan voting.
A total of $60,000 will be split among the three fighters with 1st position going home with $30,000, 2nd with US$20,000, and 3rd will take $10,000, to be paid in BTC based on the U.S. dollar price.
The new development will commence on Saturday, April 9 at VyStar Veterans Memorial Arena in Jacksonville, Fla at UFC® 273: Alexander Volkanovski vs. Korean Zombie.
“CryptoCom 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. They’re constantly coming up with new ideas about how we can work together to connect with the fans. This new Fan Bonus of the Night is an awesome way to get fans more engaged in our events while rewarding the fighters for bad-ass performances,” UFC President Dana White said.
In July, UFC signed a $175 million sponsorship deal with CryptoCom which is to last for a period of 10 years. The deal was reportedly the biggest in promotions history.
As per the deal, the CryptoCom logo was featured on UFC fight kits, fighters’ walk-up jerseys and hoodies, as well as apparel for training staff.
Last year, UFC announced plans to launch a fan token through a partnership with Chiliz, a popular blockchain provider for the sports and entertainment industries.
Crypto Marries Sport
Partnerships between sports and crypto firms are becoming very common in recent times. Crypto companies have poured millions of dollars into sports in a bid to bring cryptocurrencies to a larger audience and engage people in the nascent asset class.
CryptoCom recently struck a milestone sponsorship deal with FIFA which will see it become the official sponsor of the Qatar 2022 World Cup.
Source: https://coinfomania.com/ufc-pay-fighters-in-bitcoin/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=ufc-pay-fighters-in-bitcoin