• The Litecoin Foundation has announced that it will sponsor the UFC 232: JONES vs. GUSTAFFSON 2 fight
• This is the first time a Cryptocurrency will sponsor a UFC fight

The Litecoin foundation recently announced that it will be sponsoring the upcoming UFC 232: JONES vs. GUSTAFFSON 2. The fight, which will be taking place on the 29th of December, is a rematch between former UFC light heavyweight champion Jon Jones against UFC light heavyweight Alexander Gustafsson.

Heavy hitters

This sponsorship is significant as it marks one of the first times that a Cryptocurrency-based company will sponsor such a high profile event and is sure to bring Litecoin further into public consciousness.

The foundation, on their part, has expressed enthusiasm at this new development:

“Throughout the past year, Litecoin and the Litecoin Foundation have had the opportunity to partner with some great companies and brands. While we will continue to explore these opportunities in 2019, there are several reasons why we think it makes sense for Litecoin to step into UFC’s world-famous Octagon now.”

Significance of sponsorship

The official sponsors of major sporting events serve as an indicator of what company’s are relevant on the global stage, with companies going into bidding wars to sponsor certain events.

A similar incident happened earlier this year when the Houston Rockets announced that their next season will be sponsored by AntPool.

Needless to say, many blockchain and Cryptocurrency companies are clamouring for this opportunity which, as the Litecoin Foundation said, sparks global awareness not only for them but for the industry as a whole:

“Having the Litecoin logo displayed on the Octagon’s canvas gives LTC global awareness that can spark interest and drive engagement with people from all walks of life who may have never heard of Litecoin or cryptocurrency before.”

As much as institutional investments have been a major driving force for the progress of the Blockchain industry, the general public still has to show support to the industry if it is to grow in the coming years.

After all, Cryptocurrency was first a community effort before it began getting mainstream attention. However, people will be unable to embrace Cryptocurrency if they do not know about it in the first place.

With events like these, more awareness will be created about Cryptocurrency which, in turn, helps the movement.