Litecoin Foundation to Sponsor UFC Title Fight in Bid to Boost Crypto Adoption - BITCOIN NET MAGZ

Litecoin Foundation to Sponsor UFC Title Fight in Bid to Boost Crypto Adoption

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Litecoin Foundation to Sponsor UFC Title Fight in Bid to Boost Crypto Adoption

The Litecoin Foundation will host an event of the Ultimate Fighting Championship (UFC) mixed martial arts business, according to a statement printed Dec. 26.

In the announcement, the base said that it has come to be the"Official Cryptocurrency Partner" of the UFC light heavyweight title fight between Jon Jones and Alexander Gustafsson. The Litecoin Foundation, said that the sponsorship is part of its effort to expand the adoption of digital currencies, stating:

"With institutions and brands continued to push cryptocurrency and blockchain, this is just one more sign of this technology moving closer towards the mainstream"

Litecoin (LTC) premiered in 2011 by former Coinbase engineering director Charlie Lee. The money is a proof-of-work currency using a limited source of 84,000,000 LTC. Litecoin isn't efficiently managed, but also the Litecoin Foundation develops its network. Lee is also the managing director of the base.

In 2017, the global sports marketplace was appreciated roughly $557 billion, whereas North America has been the biggest area in the sports marketplace that year, with a 33 percent market share, according to market research and intelligence company that the Business Research Company. Raising capital through enlightenment purportedly brings new sponsors to the marketplace, with cryptocurrency-related support gradually expanding thus far.

Back in December, Brazilian premier league soccer team Atletico Mineiro launched a buff token dubbed"GaloCoin" based on Footcoin - a stage for creating utility tokens around the Ethereum blockchain. Atletico's token enables fans to purchase game tickets, official clothes, and take part in reduction programs.

Back in September, French soccer team Paris Saint-Germain (PSG) partnered using blockchain stage Socios.com to launch a token ecosystem. The token will enable the club to launch a Fan Token Offering (FTO) that provides fans access to branded Saint German club tokens. The tokens will include voting rights and may also confer VIP status and/or rewards to their holders.

Back in June, the world's largest crypto exchange Binance made an undisclosed investment to blockchain-based esports voting platform chiliZ.

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