Litecoin founder Charlie Lee has announced on Twitter that The Litecoin Foundation will be working with the Ultimate Fighting Championships (UFC) to sponsor mixed-martial art (MMA) fights.
UFC events have exploded in popularity over the past few years due in no small part to the controversial antics of Irish fighter “The Notorious” Conor McGregor. After winning the featherweight belt in 2015 by knocking out unbeaten champion Jose Aldo in 13 seconds, McGregor went on to win the lightweight belt but eventually lost the title recently to Khabib Nurmagomedov.
The first fight that will benefit from Litecoin sponsorship will be this weekends UFC 232 event featuring Jon Jones and Alexander Gustafsson at The Forum in Los Angeles, California.
In the announcement on its official blog, the Litecoin Foundation stated “there are several reasons” why it makes sense for Litecoin get involved in the sponsorship of sports events such as those held by the UFC.
“Throughout the past year, Litecoin and the Litecoin Foundation have had the opportunity to partner with some great companies and brands. We will continue to explore these opportunities in 2019”
Part of the sponsorship deal will include the Litecoin logo being branded on to the canvas of the tournament octogon, ensuring maximum exposure for the company and for cryptocurrency in general.
Crypto and Sports Betting
UFC fights have long been popular betting events amongst gamblers and sports enthusiasts, something cryptocurrency has recently become more involved with. Litecoin’s fast speeds and low transaction fees make it one of the most convenient cryptocurrencies for betting online.
There are already a number of online sports betting sites that accept staking in various forms of cryptocurrency, including Betcoin Sports, 1xBit and BetKing.io – all of which accept bets in LTC.
UFC 232 can be watched live in the U.S. on Pay-Per-View this Sunday, 30 December, at 9:00 pm SAST.