[Vlog] Litecoin sponsors UFC. Yes your currencies will be advertised!

in vlog •  6 years ago  (edited)


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A couple of days ago it was announced that the Litecoin Foundation will be the 'Official Cryptocurrency Partner' of the UFC Light Heavyweight title fight between Jon Jones and Alexander Gustafsson.

In today's video I give my thoughts about the Sponsorship arrangement and talk in general about Cryptocurrencies marketing themselves generally.

Not only but also

Even though Litecoin are the first cryptocurrency to partner with the UFC, they aren't the first to involved in sponsoring an MMA event.

I remember back in January, the Bellator Welterweight Champion, Rory MacDonald was sponsored by Dash for one of his title fights. He then went on to be sponsored by Bitcoin Cash I believe.

It was reported that Dash paid MacDonald aware between $250,000 and $350,000 in the deal for Bellator 192.


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The MacDonald deal is significant because unlike in the UFC, fighters in Bellator are able to negotiate their own individual clothing sponsorship deals.

The money MacDonald made in that fight will likely dwarf the sums paid by Reebok to all fighters forced to wear the Reebok brand at a typical UFC event.

In all likelihood McDonald was paid in Dash at the height of the recent bubble, helping to swell his earnings to such eye-watering amounts.

However the precedent is clear.

There is money to be made by athletes savvy enough to hook up with the right cryptocurrency partner. It is certainly a conversation I'll be having with @michaelvenompage, the next time I meet up with him.

What price for MVP wearing STEEM merch when he faces off with Paul 'Semtex' Daley in the Bellator Welterweight Grand Prix in February in one of the most highly anticipated grudge matches in all of MMA?


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Natural allies

In many ways there is a natural connection between cryptocurrencies and MMA. Where crypto is attempting to disrupt fiat currencies, MMA as a sport is doing the same to well-established sports like Boxing. Sometimes in order to make an impact you need to think outside of the conventional box. That certainly seem to be what the likes of Dash, Bitcoin Cash and now Litecoin are doing.

Alien marketing

While all this talk of 'currencies sponsoring events' might seem alien to some, to me it is a natural evolution. With the existing fiat system, we are used to being compelled to use the currency of the sovereign nation that we are in at the time. So much so that the idea of competition between currencies seems incongruous.

However competition between digital currencies is part of the course. Digital currencies have different attributes and features to compete on thus marketing, promotion and advertising will become key to securing greater market share.

Over the next few years I expect more currencies to align themselves with high profile events. It is a development worth keeping note of, as often the 'best marketed' and not necessary the 'best product' wins!


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Very interesting to see the evolution into ads as a first step at reaching out to the masses. Also, makes sense to focus on fringe or challenger sports, as you say. It's normally from the 'edges' that the exciting stuff comes...

Will be fun to watch the movement in LTC plus a (likely) step up in ad spend from other currencies. If only STEEM could step up and join in!

It feels like we're edging closer to wide(r)spread recognition of cryptos. Exciting times ahead.

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Well I guess it'd attract more eyes than me wearing my steem T shirt down the pub!

There is an inteteresting synergy between disruptive sports and all sorts of other things too and crypto so it makes absolute sense.

Problem is with steem there's currently no mechanism for us to decide who gets the sponshorship unless one individual wants to give away hundreds of thousands of their own personal steem!

Fiat currencies have always competed with each other... so having crypto in the mix is no different in that sense!

The easiest way to win the battle with the fridge is chuck all the junk food out, replace it with kale which takes up an enormous amount of room!

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I've only just seen the news (after a nice break from most things!), and this is so awesome. Hope this means bigger and better things for litecoin! I definitely wouldn't mind another big jump for ltc ;)

I've finally had a chance to check out your Patreon stuff properly, and I'm in! Glad to be able to give back to you in some way after all the support you've shown me this last year. Thank you :)

Hope you had a beautiful time with your girls over Christmas!!! Happy New Year to you all, see you soon hopefully!

Happy New Year to you too and blessings to your family!

Yes, see you in 2019!!

Hi Nanzo
I agree that this is a natural evolution of cryptocurrency and I believe overdue.
I think cryptocurrency needs to break into the mainstream and celebrities like athletes and actors/actresses are a nature fit. They are happy to become a paid spokesperson and occasionally one of them becomes so passionate about a company that it becomes more of a cause celebrity then a job.
I am happy to see the pictures of the Dash T-shirt’s and think your idea about asking a fighter you know about Steem is a great idea! I hope you have enough contacts within Steem and Steemit to shake a little Steem from the trees, so to speak 🤣

Although you have considerable resources, it seems only fair and fitting for others who will benefit to also support the effort. Maybe a fundition or go fund me page?
Now I am getting ideas of my own here. 😊

I hope something comes of this, good luck with “Venom”.

@shortsegments

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thats good advertising for Litecoin. If this will have a big impact on the price and adoption we will probably see more and more crypto developers sponsoring different events.

Just gave you a follow. I’m thoroughly enjoying this content coming from you. Crypto & MMA is a dynamic duo. Boxing next?

Looks like you’ve been around Steem for awhile now, would be great to connect.

Smart move from the Litecoin team

It's great to see this sponsorship, however it's a shame it had to be UFC 232. I just can't believe the parallel universe we live in, whereby a serial drug cheat gets tested positive for the very substance he was banned from, and instead of banning him again, the entire event is moved to another more lax state!

Merry Crimble mate!

Cg

It is interesting to see this for sure. The more cross exposures we can have overtime the better.

Enjoyed the video as always nanzo. Happy New Year to you!

Crypto going all the way that's very interesting to see cryptos are being everywhere

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