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.

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?

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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