The Litecoin Foundation recently went in on combat sports partnerships, starting with the Ultimate Fighting Championship at UFC 232.
Not long after, they expanded into kickboxing by collaborating with Glory — not only with advertising but accepting Litecoin as a form of payment on their online shop. The idea is to create awareness of the cryptocurrency by presenting it to a global audience, and combat sports has a worldwide audience that might only be surpassed by soccer.
Creating global awareness about Litecoin is something Litecoin Foundation Director David Schwartz has had in mind for a while, and he found a way to do it through a former MMA fighter and Litecoin Evangelist, John Kim. Kim’s connection to the sport obviously lead the way to fighters, and the biggest platform of MMA, the UFC. It should be no surprise that some fighters are already knowledgeable about cryptocurrency, but bringing that to a world stage would have to be done with the large promotions.
While Schwartz did the legwork to get these deals done, it took the former fighter in Kim to convince Litecoin creator Charlie Lee to see the global audience that can be tapped into through combat sports. How did he do this? “I made Charlie Lee watch a lot of fights,” said Kim. “Now he’s a huge fan of the UFC.”
The partnerships with combat sports promotions seems to be paying off: After UFC 232, the first event that featured the Litecoin logo, the crypto currency was buzzing, according to a post from the Litecoin Foundation. France, England, Japan, Australia, Spain, and Thailand were some of the countries listed that showed interest in Litecoin from that first event.
Schwartz was not a combat sports fan before the partnership but instantly saw the appeal after attending his first event. “Anything that’s global, anything that’s not an individual, and anything that resonates with people that they can connect Litecoin to something they really love is something we can go after,” Schwartz said of forming partnerships with combat sports.
Kim said it would not be long before fans hear Ben Askren talk about getting some Litecoin written into his contract since he has been just as vocal about Litecoin as he has been about future opponents. Time will tell, but according to Forbes, Litecoin has doubled in price this year. Perhaps the fight game has had a role in that.
Edward Carbajal serves as the lead MMA analyst for Frontproof Media and holds a black belt in Brazilian Jiu-Jitsu and a brown belt in Ishin Ryu Karate. He has covered combat sports since 2014 and has been a fan of MMA since the first UFC. You can follow Edward on Twitter @Carbazel or at his website TheBlogBoardJungle.com.