As per a statement published on Dec. 26, the Litecoin Foundation will sponsor a party of the Mma (UFC) mma organization.
The foundation mentioned on the statement that going barefoot has become the “Official Cryptocurrency Partner” of one’s UFC light heavyweight title fight between Alexander Gustafsson and Jon Jones. The Litecoin Foundation also mentioned that sponsorship is definitely a attempt to expand the adoption of digital assets and virtual currencies. The announcement added that with institutions and brands continuing to push into blockchain and cryptocurrency, this can be yet another signal of your technology moving next to the mainstream adoption.
It shall be noted that Litecoin was already released in 2011 by Charlie Lee, ad units Coinbase engineering director. The coin is a POW cryptocurrency having limited method to obtain 84 million LTC. Notably, Litecoin is absolutely not centrally managed, however, the Litecoin Foundation develops its network. Lee is in addition holding a position of managing director of the Litecoin Foundation.
The global sports market was valued around $557 billion, in 2019. Moreover, Canada and america was the most significant region while in the sports market that year, along with a 33 percent business, as per research and intelligence firm the corporation Research Company. Raising funds through sponsorship allegedly attracts new sponsors in the market, with crypto-related support gradually expanding at this point.
Atletico Mineiro, the Brazilian premier league soccer club launched an enthusiast token dubbed “GaloCoin”, in December. It can be to be noted that GaloCoin is based on Footcoin, which is a platform in making utility tokens in the Ethereum blockchain. Atletico’s token permit fans to acquire official apparel, game tickets, and engage in discount programs.
PSG, a French soccer club, did a partnership with blockchain platform Socios.com to launch a token ecosystem, in the month of September. Interestingly, the token will enable the club to launch a Fan Token Offering (FTO) that has fans a chance to access branded Saint German club tokens. These tokens will allegedly contain voting rights. Also, they can grant VIP status and/or rewards recommended to their holders.
Binance, the planet’s largest cryptocurrency exchange made an undisclosed investment into blockchain-based esports voting platform chiliZ, in the month of June this coming year.