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Mixed martial arts organization UFC has partnered with sustainability-focused blockchain VeChain, in a bid to integrate both brands moving forward under a reported $100-million deal.
Source: Coindesk
VET is up 2.65%, while BTC is down 1.11%.
The deal is estimated to be worth $100 million covering a five-year period, according to sources close to the matter. VeChain has yet to comment on the transaction price.
Under the agreement, VeChain will be UFC’s first Official Layer 1 Blockchain partner which will see the blockchain Foundation integrated into key assets of UFC including live vents and broadcast features.
VeChain will benefit through publicity in UFC which has an estimated 900 million television households across 175 countries that receive the broadcasts of the mixed martial arts organization.
VeChain Co-Founder and Chief Executive Officer Sunny Lu said the partnership is just the start of a “multi-year relationship” with UFC, adding that the firm is looking forward to “changing the world together.”
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