Charlie Lee Litecoin creator has declared that Litecoin will be the Official Cryptocurrency Partner of UFC 232 – Jones vs Gustafsson in California on December 29th.
The event will take place this Saturday evening in California and the headline bout on the card will see Jon Jones and Alexander Gustafsson dispute the UFC light heavyweight belt.
The Litecoin Foundation stated that the sponsorship is part of its effort to expand the adoption of digital currencies, saying:
“With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream.”
It remains unclear how a partnership between the two entities will work in practice. After all, Litecoin is not a company in the same way that Bud Light, Reebok, or Harley Davidson is.
John Eidson, the director of marketing & communications at the Litecoin Foundation, explained that the aforementioned asset will become the “Official Cryptocurrency Partner” of the upcoming sports event. The match, which will be the last UFC contest of 2018, will see Jones challenge Gustafsson in a Light Heavyweight match.
Litecoin is the first Cryptocurrency to be featured in any of the UFC events. Similar to Litecoin even the UFC is a community-driven event which has grown to be a global phenomenon worth Billions of Dollars in the past 25 years.
Charlie had previously told in an interview that 2019 would be the year to focus on mass adoption. This sponsorship marks the start of it. The Litecoin foundation also mentions in the post that they hope to create a long and fruitful relationship with the UFC.