Litecoin has changed the rules of the marketing game for Cryptocurrencies all over the world, becoming the first Crypto to sponsor a UFC fight. It took place in December 2018, leading to the main cryptocurrency marketing strategies.
Charlie Lee, the creator, however, has faced the reaction of the maximalists of Bitcoin for having undertaken the marketing phase. However, he explained the reason for this recently in a episode Magical Crypto Friends with Richard Spagni of Monero, Samson Mow of Blockstream and panda of whales (not his real name).
"So it's a bit like wanting to build that brand and make it better known, and it's really a lot of help, I mean we've reached a lot of people, [they’ve] they contacted us, we talked about similar coins only because if they knew about the sponsorship of the UFC, yes. I think it's pretty good, plus that the fight was pretty amazing. "
Charlie has also had a lot of backlash from the Bitcoin maximalist community for promoting LTC with paid sponsorships. Trying to rationalize why they would hate Litecoin for this, Charlie says:
"Since the Litecoin foundation has sponsored an announcement for Litecoin, it makes Litecoin a scam, I think it's the idea or maybe it's become more of a threat to Bitcoin than I know …"
It seems that marketing has worked like many UFC fans who have never been interested in cryptocurrencies and have started to gain interest in Litecoin.
At the time of writing Litecoin is classified in the 8th place, with a market capitalization of $ 1,867,295.329 and a value currently in the red at $ 31.06.
Take of Blockmanity
Litecoin is known as Bitcoin's little brother who is not so well known. So such marketing could lead it to become a recognized mainstream brand and with micropayments that are favored thanks to low transaction costs and fast speed.
Litecoin is already starting to have an impact between UFC with a sponsorship by Ben Askren, who is a wrestler and will enter the UFC ring for the first time. Askren tweeted his support for Litecoin-
– Ben Askren (@Benaskren) January 15, 2019
litecoin of [LTC] Capacity of the Lightning network up 116% in the last 30 days
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