Last week VeChain announced it would become a long-term partner of mixed martial arts organization UFC. Sports Business Journal reported that the deal is worth up to $100 million over at least five years. It also announced an NFT deal with DraftKings, where the tokens will be used in fantasy games.
The blockchain and crypto sector has been a huge windfall for UFC, which already has several crypto sponsorships. Its biggest deal so far is the partnership inked last year with crypto exchange Crypto.com in a sponsorship deal that CNBC reported was worth $175 million over ten years, and since then, they’ve launched NFTs together.
But that’s just one of multiple NFT relationships. DraftKings was already UFCs “Official Sportsbook and Daily Fantasy Partner” in the United States and Canada. The latest deal extends this to Reignmakers UFC gamified NFTs. In other words, fans start collecting the NFTs, which can later be used in the fantasy game. Until then, the NFTs will provide digital and physical rewards tied to UFC events.
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