The Litecoin Foundation will fund an event of mixed martial arts organization, UFC Ultimate Fighting Championship, as announced on December 26th.
In that statement, the foundation said it became the official "cryptographic partner" of the UFC heavyweight title battle between Alexander Gustafsson and Jon Jones. The Litecoin Foundation has stated that sponsorship is part of its efforts to expand the adoption of digital currencies.
Litecoin was launched in 2011 by Charlie Lee, former technical director of Coinbase. The currency evaluates the functional test with a limited inventory of LTC 84 million. Litecoin is not centrally managed, but the Litecoin Foundation creates its network. Lee is the director of the foundation.
By 2017, the global sports market accounted for around $ 557 billion, while North America was the leading sports market region that year, with a market share of 33%, the Business Research company said. The sponsorship of fundraising seems to attract new players to the market, with the support of the gradual increase in cryptocurrency.
In December, Atletico Mineiro, the Brazilian soccer club of the first division, launched a token called "GaloCoin" based on Footcoin, a platform to create utility chips in the Ethereum blockchain. With the Atletico token, fans can buy tickets for games, official costumes and participate in discount programs.
In September, the French football team Paris Saint-Germain (PSG) collaborated with the Sociocos.com blockchain platform to launch a chip ecosystem. With the symbol, the club can launch an offer of fan clubs (FTO), allowing fans to access the tokens of the Saint-German club. Tokens receive voting rights and can also assign VIP status or remuneration to their holders.
In June, Binance, the world's largest encrypted exchange, made an anonymous investment in the blockchain-based election platform called ChiliZ.
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