Today, June 9, 2022, The UFC and VeChain announced a long-term partnership that will break new barriers, in terms of marketing, for both the brands.
VeChain is a blockchain platform designed to enhance supply chain management, as well as business processes. In lamens terms, VeChain boasts two crypto-currencies, VET coin (for voting on changes to the protocol, and VTHOR, for executing transactions. The overall goal is to streamline processes and information flow for complicated supply chains using “DLT” (Distributed Ledger Technology). Its adaptive platform is wide-ranging to real-world needs.
The company provides businesses with the ability to track a plethora amount of data, indicators include (but are not limited to): quality, authenticity, storage temperature, and transportation status. The company has sustainability initiates, carbon emissions management, the automotive sector, medicine, energy, and more.
What is VET?
VET is the main cryptocurrency powering VeChain and can be used for spending, holding, staking, or sending. With, applications that are built on VeChain will need VTHOR transactions. Further, if specific applications get popular, the demand for VTHOR will rise, as will the demand for VET coins, which in turn will increase its value.
About The UFC
The UFC is the world’s largest mixed martial arts organization (MMA). The UFC has over 680 million fans and almost 200 million followers on social media. The best MMA fighters come out of 75 different countries worldwide. The UFC events are broadcast and reach over 900 million TV’s in over 170 countries, as well as offer a digital streaming service called “UFC Fight Pass”.
What this means for both companies
Both companies are very excited about their new long-term partnership. Paul Ascend, UFC’s Senior Vice President of Global Partnerships, stated that “VeChain is a globally recognized leader in blockchain technology and we couldn’t be happier to welcome them as an official marketing partner of the UFC.” Sunny Lu, Co-founder, and CEO of VeChain adds that “This is a historical moment (to join) forces with the fastest growing sport to raise awareness that blockchain technology is critical in helping to deliver major global objectives, such as sustainability”.
VeChain has international offices globally in Japan, China, Luxembourg, Singapore, Ireland, San Marino, France, Ireland, Italy, and the United States. Other partnerships that VeChain established include; BMW Group, Walmart, Bayer, and many more. The technology applications range in a multitude of industries such as medicine, energy, supply chain, logistics, sustainability, and carbon management.
VeChain will be branded on all UFC fight decks and brand visibility around the UFC’s famous octagon. The company plans to enhance lighting around branding as well. The two companies plan to collaborate to create official content with UFC fighters that will be accessible across social media and digital platforms that will reach 200 million followers around the world.
All of these VeChain branded nuances will make their first appearance on Saturday, June 11, 2022, at the Singapore Indoor Stadium at UFC 275: Teixeira vs. Prochazka. This will be huge for its debut as it is UFC’s first Pay-per-view event in SE Asia.