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Lessons From UFC 232-Litecoin Partnership: Cryptos Are For Investment, For building Knowledge

January 25, 2019

Litecoin’s Foundation post-historic crypto UFC-232 in January says “our sponsorship with the UFC made history — cementing Litecoin as the first cryptocurrency to partner with the UFC — the sponsorship has also provided a compelling first-hand view into the role these types of initiatives can play in helping LTC drive towards mass adoption.”

Lessons learned

For one of the most popular Bitcoin siblings, Litecoin has come a far way in creating its own channel of investors and crypto-enthusiasts who want something more than what bitcoin can fundamentally do. Litecoin has created a sub-genre in the DLT space with its low-transactional assets thus far.

It appears end of 2018 has been dedicated to taking those big steps towards ensuring larger, bigger and effective ecosystem for Litecoins and its types. The Litecoin Foundation says, “several goals we looked to achieve from this sponsorship, including driving awareness, tapping into the UFC’s fervent worldwide community, and taking the critical first steps towards what we hope will be an evolving and fruitful relationship with this globally recognized brand.”

Driving Awareness: Lesson 1

Cryptocurrency use and its adoption have come a long way from the baby-steps of a decade ago. Today there are thousands of tokens, coins and other crypto-based digital assets which continue to drive excitement, passion, and commitment from the community members. However, such communities are a marginal percentage of the massive consumer base available in every corner of the world. The fourth industrial revolution has meant there is a substantial need for decentralized, deregulated market systems and cryptographers have taken up this cry.

While there are any numbers of such digital assets for users now available, the only issue is with respect to “adoption,” at the mass level.

And this is where Foundations such as that of Litecoin will step and make changes, “The transformative value proposition that Litecoin holds for the world, awareness is especially important in order to plant the first seeds for people to want to grow their knowledge and understanding of Litecoin and cryptocurrency in general. While we are hopeful that this partnership was just the beginning for UFC/LTC, we think it was a knockout for several reasons.

New Possibilities

Perhaps the best achievement thus far, of UFC-232 has been the “new doors of possibilities” such sponsorships can open. Litecoin says, “some of these measurable results are extremely important, the opportunity this sponsorship has already created for LTC is hard to understate. While we have been fortunate to command steady interest from some great brands over the last couple of years, the ilk of globally recognizable brands that are reaching out to the foundation since UFC 232 has increased dramatically.“

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