UFC To Pay Fighter Bonuses In Crypto
The UFC has been criticized in the past for the compensation allocated towards it’s talent, who put their all in on one of the most physically enduring sports on the planet. The league can look to counter critics this week, courtesy of their existing partnership with Crypto.com.
In a new announcement today, the UFC has shared that it will distribute $60,000 worth of Bitcoin to fighters at pay-per-view events. Let’s take a look at the announcement, and what it means for the league and broader sport.
The UFC Continues To Push The Fold
The UFC was one of the first non-soccer sports leagues to try out fan tokens, courtesy of a deal with Chiliz, and has continued the crypto-related momentum with little fear of pushing into uncharted territory. It’s fitting for a non-traditional sports league like the UFC. Last year, the UFC secured it’s initial partnership with Crypto.com – a massive 10-year, $175M deal that was unprecedented. The deal secured Crypto.com as the UFC’s first-ever ‘Official Fight Kit Partner.’
In January, the league continued it’s endeavors into blockchain-related experiments, announcing a partnership with Dapper Labs for a new NFT marketplace. This week’s announcement shows that they’re back for more, with a new ‘Fan Bonus Of The Night’ that will engage fans in a particularly unique way.
Fans will award three top fighters on pay-per-view events, with $30,000 of BTC awarded to first place, $20,000 awarded to second, and $10,000 awarded to third place – all paid in BTC.
This weekend’s UFC 273 event will be the first to host this fan bonus structure.
Crypto.com’s partnership with the UFC will enable the exchange to unveil some particularly unique levels of fan engagement that other traditional sports leagues may not be willing to dive into quite yet. | Source: CRO-USD on TradingView.com
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Impact On Sports At Large
These fan engagement levels may seem relatively small at their face, but they show that the league is willing to be aggressive in finding ubiquitous ways to have fans feel involved. While traditional sports leagues may be slower movers when it comes to new ideas like this, don’t be surprised to see them eventually turn the corner – particularly as stronger, more established relationships with crypto partners and major leagues continue to evolve.
There’s few leagues with an audience the size of the UFCs that are trying new fan-engagement ideas like this, so credit is due for finding a way to reward league fighters in a way that gives the fans a more personalized experience.
Related Reading | Zuck What? Meta Is Reportedly Planning To Create A Digital Token Nicknamed After Its CEO
Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.