Crypto.com is extending its sports sponsorship run in a deal with the Ultimate Fighting Championship, a mixed martial arts organization.
- The Hong Kong-based exchange will become UFC's first official "fight kit" partner, an emailed announcement said Wednesday.
- The 10-year deal is worth $175 million, according to a report by Sportico, citing people familiar with the matter.
- Crypto.com logos will appear on the athletes' kit worn both in and out of the "Octagon," the area where fights are held.
- The partnership follows barely a week after Crypto.com said it was sponsoring Formula 1's new "Sprint" format, starting with the British Grand Prix at Silverstone on July 17.
- Research by numerous organizations in recent months has highlighted how crypto tends to resonate with a younger demographic, an audience Crypto.com seems to be trying to attract by establishing a brand presence at sporting events that are likely to appeal to younger people.
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