On Feb 26th the partnership between Litecoin Foundation and kickboxing league Glory was announced on the Litecoin Foundation’s website. The partnership has taken place to make the cryptocurrency official for the world’s premier stand up combat league. It will be used for the online merchandise platform and worldwide events.
As per the announcement, the Litecoin (LTC) will now be accepted as a payment method on gloryshop.com. Glory has also signed top kickboxing heavyweights. The list includes Dutch Lumberjack Peter Aerts and Remy Bonjasky, aka The Flying Gentleman. Not only this, the fan base from the States and from European countries will be allowed to use the cryptocurrency for buying LTC exclusive, event-related privileges such as athlete meet-and-greets, backstage arena tours, premium arena seats and so on. (You can read the entire list in the announcement.)
The exciting news and the potential it offers to the Litecoin’s future growth made the founder of Litecoin Foundation- Charlie Lee to express the following-
“GLORY has a growing worldwide fan base that consists in large part of a younger demographic who are early adopters of technology and conduct much of their lives online – from consuming content to purchasing products. […] Tapping into their global audience and educating them about Litecoin through real-world use cases can be powerful.”
On the other hand the CEO of GLORY- Marshall Zelaznik said-
“A partnership with Litecoin, which offers one of the fastest transaction confirmation speeds of any cryptocurrency, makes perfect sense for GLORY and our fans as we continue to put on the fastest fight action in the combat sports world. With both companies also being young, dynamic and achieving consistent growth, GLORY could not have found a more fitting cryptocurrency partner.”
Founded back in 2012, the kickboxing league is operated by Glory Sports International. It hosts several events such as Karate, Muay Thai, Taekwondo and boxing. It has offices in Los Angeles, Denver, Amsterdam and Singapore which gives it good media coverage. It spans around two hundred territories on the international scale. This media coverage will now boost the popularity of Litecoin too through broadcast and social media, the press release states and so on.
The cryptocurrency and sports fields have an interesting interaction lately. One straight forward way is through such partnership; on the other hand, there have been reports of many sports clubs launching their proprietary crypto tokens.
For instance, as per the reports, last year, the French soccer club Paris Saint-Germain joined forces with blockchain platform Socios.com. It was done to monetize and allure fan involvement and experiences via the crypto token structure. The Chief Partnership Officer of PSG- Marc Armstrong said in a press release-
“Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fanbase.”
Also in December last year, the premier league soccer club Atletico Mineiro from Brazil, released an Ethereum ETH based fiat utility fan token called- GaloCoin. It has been named after Atletico’s mascot.