As a result of the recent partnership with UFC, the trading volume of VeChain has increased by 120%.
The price of VeChain (VET) has increased by nearly 10% after the blockchain announced a long-term partnership with the world’s largest mixed martial arts organization, UFC.
The VeChain and UFC partnership will strengthen both brands’ marketing platforms. VeChain will also gain access to key UFC assets such as live events, broadcast features, and in-arena promotion, as well as original content available on UFC’s popular digital and social channels.
VeChain Foundation Announces Partnership With UFC
On June 9, the VeChain Foundation announced a $100 million marketing partnership with the UFC in an official announcement. The blockchain gains exclusive access to key UFC assets as well as brand visibility through massive TV broadcasts of UFC events in 175 countries as part of the partnership.
Sunny Lu, VeChain’s co-Founder, and EO, stated:
Paul Asencio, UFC Senior Vice President of Global Partnerships, is working with blockchain pioneer to promote the benefits of blockchain technology in environmental protection for future generations.
The blockchain will also own the UFC’s official fighter rankings title “UFC Rankings Powered by VeChain,” have a brand presence inside the Octagon match ring and on UFC Fight Deck, and create VIP sweepstakes promotions.
The VeChain-branded assets will make their debut at the UFC 275: TEIXEIRA vs PROCHAZKA event in Singapore on June 11.
The price of VET has risen following the announcement, and the price action and social sentiment have both improved. The RSI is at 52 and is moving rapidly in the region. Furthermore, the price is currently moving along the 9-day MA and finding support at the 50-day MA, which is rising due to the high trading volume.
As a result, the price of VET may rise significantly from its current levels. Furthermore, the long-term partnership will benefit the VET price.