Litecoin Foundation to Sponsor UFC Title Fight in Bid to …

The Litecoin Foundation will unite an eventuality of the Ultimate Fighting Championship (UFC) churned martial humanities organization, according to an proclamation published Dec. 26.

In the statement, the substructure pronounced that it has turn the “Official Cryptocurrency Partner” of the UFC light heavyweight pretension quarrel between Jon Jones and Alexander Gustafsson. The Litecoin Foundation settled that the sponsorship is part of the bid to enhance the adoption of digital currencies, saying:

“With brands and institutions stability to pull into cryptocurrency and blockchain, this is nonetheless another vigilance of this record relocating closer towards the mainstream.”

Litecoin (LTC) was expelled in 2011 by former Coinbase engineering executive Charlie Lee. The silver is a proof-of-work banking with a singular supply of 84,000,000 LTC. Litecoin is not mainly managed, but the Litecoin Foundation develops the network. Lee is also the handling executive of the foundation.

In 2017, the tellurian sports marketplace was valued around $557 billion, while North America was the biggest segment in the sports marketplace that year, with a 33 percent marketplace share, according to marketplace investigate and comprehension organisation the Business Research Company. Raising supports through sponsorship purportedly attracts new sponsors to the market, with cryptocurrency-related support gradually expanding to date.

In December, Brazilian premier joining soccer bar Atletico Mineiro launched a fan token dubbed “GaloCoin” formed on Footcoin — a height for creation application tokens on the Ethereum blockchain. Atletico’s token will concede fans to squeeze diversion tickets, central apparel, and attend in bonus programs.

In September, French soccer bar Paris Saint-Germain (PSG) partnered with blockchain height Socios.com to launch a token ecosystem. The token will concede the bar to launch a Fan Token Offering (FTO) that gives fans entrance to branded Saint German bar tokens. The tokens will come with voting rights and can also consult VIP standing and/or rewards to their holders.

In June, the world’s largest crypto sell Binance made an undisclosed investment into blockchain-based esports voting height chiliZ.

Article source: https://cointelegraph.com/news/litecoin-foundation-to-sponsor-ufc-title-fight-in-bid-to-increase-crypto-adoption