The rise in interest in MMA, and the UFC in particular, over the past few years has been remarkable, as SportProMedia confirmed that viewing figures have continued to grow while other sports were struggling to retain viewers. Having said that, not only is the organization a leader in viewing figures, but the UFC is also leading the way in modern combat sports when it comes to being at the forefront of the digital asset revolution.
The UFC has been touched by all types of digital assets, much like a host of teams in the NBA, NFL, and NHL have done so in the US. The world of mixed martial arts has taken the fight to the blockchain world, and here’s how they gained the initiative.
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Due to the ever-increasing numbers of people watching the sport, both inside sold-out arenas and on TVs in homes around the world, huge companies have been lining up to get into the octagon with the UFC.
Back in July 2021, the UFC struck a deal with Crypto.com, which allowed the cryptocurrency platform to become their first-ever global fight kit partner. The agreement, worth more than $175 million over ten years, also meant they became the UFC’s first official cryptocurrency platform partner.
Not only does the deal cover branding on TV, but with streaming also becoming a significant consideration when it comes to viewing figures, it’s meant the company’s branding can also be seen across digital platforms and across the official UFC social media platforms.
Fan Tokens
The move to join forces with the digital currency platform came just weeks after launching one of the latest forms of digital assets, which bring fans closer to their heroes than ever before. The UFC signed a deal with Socios to bring fan tokens as a new form of sports memorabilia and bring a fresh dimension to fan engagement.
Purchasers of the tokens, which initially sold for €2 ($2.20), would get their own uniquely branded digital item and gain voting rights on which fighter would be featured in Megan Olivi’s Walkout Report during UFC 264. Also, another bonus came for token owners, as they could select a question to be asked at the press conference for the big event, which was the last headlined by Conor McGregor. It has been initiatives like these that the fans have clearly appreciated, as the initial allocation of 1 million tokens sold out very quickly indeed.
Digital Collectibles
Fan tokens were not only the digitized branded options available for those looking out for a piece of digital UFC memorabilia. This is due to the organization long being an advocate of NFTs, or non-fungible tokens, as they have been available in UFC branding for over two years now.
The organization teamed up with Dapper Labs in 2020 to bring digitized representations of some of the top fighters for fans to grapple with as purchasers could also then virtually train, level up, and even manage their diets to qualify for weight classes. UFC followed that up with a roster of digital video trading cards that featured slow-motion hits, walk-off KOs, and more, and sales must have been good.
Although actual figures have yet to be released, Dana White, the president of the UFC, has admitted the organization and its fighters have profited from the sale.
As you can see, the world of digital assets and the UFC has long been partners rather than adversaries, and we’re going to see them in the Octagon for quite some time to come.
