UFC Goes Crypto with MMA Heavyweight Champ to Take Bitcoin (BTC) Prize Purse

While governments around the world look to tighten their controls on cryptos, the crypto-sport relationship continues to grow.

Over the last few months, there has been plenty of crypto-sport-related news. Not only in relation to cryptos, but also NFTs and even the Metaverse.

Late last year, crypto exchange Crypto.com (CRO) announced a sponsorship deal with U.S female soccer team Angel City F.C. Shortly after, news hit the wires of Crypto.com buying Super Bowl LVI airtime.

With exchanges looking to build their brand names and attract consumers, there has also been news of sports stars entering the crypto space.

At the end of last year, we reported on leading NFL players taking Bitcoin (BTC) salaries or accepting cryptos for endorsements.

It hasn’t just been the NFL, however, with the NBA also having a strong link with the crypto space. Just last week, news hit the wires of Andre Iguodala announcing that he will take a portion of his annual salary in BTC. The 3-time NBA champion also announced that he will give $1m in BTC back to fans to make BTC more accessible.

With politicians also announcing plans to accept crypto salaries or contributions, we are likely to see the list of public figures accepting cryptos as salary surge in the months ahead.

UFC Joins the NFL, NBA, and Politicians

Overnight, news hit the wires of UFC heavyweight champion Francis Ngannou announcing that he will take half of his UFC270 prize purse in BTC.

According to the news, the MMA fighter is taking on Ciryl Gane on 23^rd January. Ngannou has $750,000 in guaranteed prize money.

The heavyweight champion took to Twitter to announce his partnership with crypto wallet CashApp and his BTC plans.

Tweets by francis_ngannou

Regulators Clamp Down on Crypto Ad Campaigns

While sports stars are announcing their partnerships with exchanges and BTC salary plans, regulators around the world have been clamping down on crypto exchange ad campaigns.

Just this week, news has hit the wires of Singapore, the UK, and Spain clamping down on crypto ads.

What this means for sports stars, their relationships with crypto platforms and the crypto platforms remains to be seen.

Governments and regulators may look to pour cold water on the growing partnership. When considering central bank concerns over cryptos and financial stability, sports have got too big a following for regulators to just stand back.

Crypto.com’s 30-second ad during Super Bowl LVI is just one example of the consumer reach an ad can have. Super Bowl LV attracted 96.4 million viewers and this was the lowest since 2007. A 30-second ad at Super Bowl LVI reportedly costs $6.5m.