Transactions will be made through Crypto.com and the fighters will be paid in Bitcoin at a fixed dollar amount.
UFC and Crypto.com inked a 10-year long kit deal last year
Photo Credit: UFC
Popular mixed martial arts organisation Ultimate Fighting Championship (UFC) and Singapore-based cryptocurrency exchange Crypto.com, have announced that fighters partcipating in pay-per-view UFC events will soon be eligible for fan-based bonuses paid out in cryptocurrency. As per an announcement, the payout programme labelled, 'Fan Bonus of the Night' will feature three Bitcoin bonuses that will be awarded to the top three fighters on each UFC pay-per-view event, as decided by a fan vote, which will be available to viewers across the world.
As per a press release three lucky fighters will split a total of $60,000 (roughly Rs. 45 lakh) between each other, and as the company stated, the new type of bonus will become an addition to traditional cash bonuses for the best performance of the night, the best fight of the night, etc. "The Bitcoin payouts will range from $30,000 (roughly Rs. 22.5 lakh) for first place, $20,000 (roughly Rs. 15 lakh) for second place, and $10,000 (roughly Rs. 7.5 lakh) for third place. The bonuses will be paid in Bitcoin based on the exchange rate in US dollars," reads an excerpt from the press release mentioning the payout division.
The first UFC Bitcoin fan bonus will be paid to fighters during the upcoming “UFC 273: Volkanovski vs the Korean zombie” pay-per-view event on April 9.
"Crypto.com has been an official UFC partner for less than a year, and I'm telling you they are already one of the best partners we've had. They're constantly coming up with new ideas about how we can work together to connect with the fans," UFC president Dana White said in a statement.
The crypto exchange became the official "fight kit" partner of the UFC in a 10-year deal worth $175 million (roughly Rs. 1,317 crore) last year. It was one of many such deals with sports teams and brands scored by Crypto.com across football, basketball, hockey and Formula 1 racing. It also secured the naming rights to previously named Staples Center in Los Angeles, home to both of city's NBA teams and the NHL's LA Kings.
More recently, Crypto.com became an official sponsor of the 2022 FIFA World Cup taking place in Qatar in November and December.
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