Bitcoin and cryptocurrencies, in general, have become highly popular in the sporting sector. Kevin Lee, a professional mixed martial arts (MMA) fighter, has noted that his decision to sign with his new company is to be paid in Bitcoin. The report notes that the Eagles FC, a Russian-based league that Lee will now be playing for, will be paying him in Bitcoin. The MMA fighter will receive his Bitcoin payments as part of the four-right contract.
Kevin Lee is a crypto supporter
This is not the first time that Lee is showing support for the crypto sector. The MMA fighter has been holding Bitcoin since 2017; hence he has experienced the major bull run that happened this year. He noted that part of the profits garnered from holding Bitcoin was used to pay for his expenses after several knee surgeries.
Speaking on his recent signing, Lee noted that “to be paid in Bitcoin and not give me any pushback on it whatsoever was huge in the decision [to sign with Eagle FC]. It gives me a lot more financial security and will help me fight better too.”
The announcement failed to mention the fighter’s amount from Eagle FC. Previously, Lee earned up to $280,000 during his previous UFC fight with Tony Ferguson. During an interview on December 17, Lee revealed that Eagle FC would pay him more than he earned under his UFC contract, which could equate to over 5 BTC at the current prices.
The contract with Eagles FC is a comeback for Lee. The player was previously suspended from fighting for six months after testing positive for Adderall. After being released from his UFC contract, Eagles FC attempted to add him to their team, and the first match with the championship is expected to happen on March 11 against Diego Sanchez.
UFC and digital assets
The UFC has been keen on unleashing the benefits of digital assets. The UFC has signed partnerships with various firms in the crypto and blockchain spaces to achieve this. In July, UFC signed a $175 million deal with the Crypto.com exchange for ten years. Through this partnership, UFC released non-fungible tokens (NFTs).
The UFC has also announced its collaboration with Socios and Chiliz to issue a fan token. Fan tokens are useful for sports clubs, leagues, and championships to boost fan engagement.
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