Will Litecoin-UFC Partnership Lead to Mass Adoption?

[bbc.reporter]

I like what the Litecoin Foundation is doing by beginning to set up a storyboard that adoption is the main purpose of litecoin's advertising and brand awareness campaign.

However, Charlie Lee is known to tweet about cryptocoins, litecoin also, and influence them to pump or to dump. This brand awareness campaign of his might not be a move for mass adoption, but a preparation for litecoin's biggest pump.



On Saturday, Dec 29, 2018, the UFC 232: Jones Vs. Gustaffson 2 event included the Litecoin Foundation (Litecoin) as the UFC’s first official cryptocurrency partner. Since the fight, some have wondered whether partnerships between sporting organizations and cryptocurrency companies can lead to the mass adoption of cryptocurrency.

The UFC is not the first sporting organization to include a cryptocurrency partner or sponsor. Several European soccer/football teams have had crypto sponsors. In 2014, Dogecoin sponsored NASCAR driver Josh Wise. The Dogecoin logo and mascot appeared on the number 98 race car at a number of races. On May 4, 2014, the car was featured for a brief period as commentators discussed Dogecoin and cryptocurrency. These and other partnerships and sponsorships have created avenues in which awareness was raised to the existence of cryptocurrencies. Such awareness might not have otherwise been raised. As more partnerships and sponsorships emerge, awareness is maintained.

Awareness raising is an important preliminary step for the mass adoption of cryptocurrencies. CLICK TO TWEET
If people are not aware of their existence, they are not likely to use them in their daily lives. However, people are also prone to forget things after they happen. Thus, awareness maintenance becomes a second step toward the mass adoption of cryptocurrencies

Read in full https://beincrypto.com/will-litecoin-ufc-partnership-lead-to-mass-adoption/

[mirakal]

This event was already over, but good that one of the best altcoins in the market which is litecoin has a promotion like this.
We will be known to the world, slowly but this is a big help for mass adoption, next time I would like to see Ethereum doing this or other coins that I've invested with.

[fudster]

I watched the fight twice but never did noticed that litecoin logo on the canvass. I don't know if the rest of those who had seen the logo wonders what LITEcoin is
but if UFC allows us to bet fights with just LTC, then it would be good to see adoption gradually coming. Paying PPV in LTC would be good.

[Jating]

Possible that it can go mainstream, its a partnership so I'm expecting that every UFC event we will see the LTC logo and it might reinforce to some UFC fans about crypto, hence they might be interested to purchase LTC as investment, so let's hope that this is just the start not just for LTC but for the rest of the crypto enthusiast.

[peter0425]

I watched the fight twice but never did noticed that litecoin logo on the canvass. I don't know if the rest of those who had seen the logo wonders what LITEcoin is
but if UFC allows us to bet fights with just LTC, then it would be good to see adoption gradually coming. Paying PPV in LTC would be good.

I think if UFC will allow people to pay PPV in LTC then that will be great for the community. And I'm sure that its a good step towards the mass adoption that we all have been wanting for. There have been several attempts though, like in Football or even in Olympics but we haven't seen the output that we all have been waiting for.

[bbc.reporter]

I reckon not one of the people who posted in the thread read after the title hehehe. Please read the post and also the news and share your ideas or assessment.

In any case, I never trusted Charlie Lee. He might be a wolf in sheep's clothing.

[passwordnow]

In any case, I never trusted Charlie Lee. He might be a wolf in sheep's clothing.

Same thoughts as mine. Remember those days when he suddenly sold of his litecoins? He knew it that the market will go through a bear market or he just assumed it will and pretty saw that the market has been up and great to sell. I don't trust his behavior though he's been one of the most well known people in the crypto space. But I'll never trust him anyway, actually I thought that he already left litecoin but I think he's just doing his part of advertising it.

[bbc.reporter]

@passwordnow. It is for that rationalization why we might witness one of litecoin's biggest pumps during the next bull market. Those rationalizations being, Charlie Lee is a wolf in sheep's clothing and that he is making his moves for spreading litecoin's brand awareness.

This might be a sign that he is buying low and setting up litecoin for its biggest pump.

[passwordnow]

@passwordnow. It is for that rationalization why we might witness one of litecoin's biggest pumps during the next bull market. Those rationalizations being, Charlie Lee is a wolf in sheep's clothing and that he is making his moves for spreading litecoin's brand awareness.

This might be a sign that he is buying low and setting up litecoin for its biggest pump.

Yeah, interesting. He won't such precious time to promote the project he sold most of his holdings if its not on his benefits. I think seeing such moves are good indication that there's something positive that's about to come to us. Like what he did, he's aware that the market will go through a correction and he sold everything, as in all. The last time I saw Litecoin, price was $24-$25 and its raised to $33 as of the moment.

[5ensei]

It is unlikely that this will happen, if you know about WAGERR they have sponsored many sporting events including boxing and UFC but I still hasn't set the crypto world on fire. Litecoin might have a bigger impact but hard to say in this market - the news is rarely good right now

[CryptoAssasin]

How do you expect a mass adoption if their logo is only on the floor of the octagon? 😂 It will only be a type of advertisement or to get more supporters. It would be better if their logo is written on a fighter's tarpaulin or will be advertise on the tv screen before the match. What they did will be historical to litecoin when the time comes where they will be fully recognized as a medium of payment or when litecoin price reaches above $1000.

[Rambukwelle]

It is really a good way of marketing to reach a global market. With this effort We also some green on LTC in Price . It will be always good for Crypto to reach global stages since very few having idea what Cryptocurrency really is.

[Naviboat]

I think Litecoin will set new highs but not before a slow drag of 2019.
There will be a lot of consolidation going forward with the next major pump probably hitting $800+.

Once we cross the $800-1000 lines we could potentially never see a low lower than $100-200 again.


This is pure speculation based on how Bitcoin has performed.
But I believe there is a lot more invested in Litecoin when it hit last year's high than was invested into Bitcoin when it first hit the same price.

Advertising definitely brings legitimacy to Litecoin. With so many scam Altcoins out there it makes it a safer investment. At least, that may be how new comers see it.

I also think that the break away that Ethereum and Litecoin had this month from Bitcoin pricing definitely helps.



   

[Esterklu]

I think this is a small step up in mass adoption, but it is useful for Litecoin to be a recognizable brand, I like this coin and hope that they will not stop to promote themselves everywhere.

[sabine80]

i am not sure if that was a good promotion for litecoin. in terms of price, this has not changed much and whether litecoin has found new users with it, i doubt somehow.

[bbc.reporter]

@passwordnow. It is for that rationalization why we might witness one of litecoin's biggest pumps during the next bull market. Those rationalizations being, Charlie Lee is a wolf in sheep's clothing and that he is making his moves for spreading litecoin's brand awareness.

This might be a sign that he is buying low and setting up litecoin for its biggest pump.

Yeah, interesting. He won't such precious time to promote the project he sold most of his holdings if its not on his benefits. I think seeing such moves are good indication that there's something positive that's about to come to us. Like what he did, he's aware that the market will go through a correction and he sold everything, as in all. The last time I saw Litecoin, price was $24-$25 and its raised to $33 as of the moment.

Yes, he is a crafty person, Charlie Lee hehehe. The pump also occured earlier than I thought. This might be the beginning of his great litecoin pump.

In any case, personal disclosure, I do not hold litecoins. I am an aeon bagholder hehe.

[Farahtenan]

Even though he's cunning, his strategy is good enough to increase Litecoin's value. Now the recovery of Litecoin's trust to get more value and this I think is fair to seek public attention. Success and litecoin start pumping with good value.

[Best Bitcoin Slots]

I agree with everyone here. Litecoin becoming the first crypto sponsor of UFC will help the coin get awareness. Also, it is a way for the cryptos to enter the world of sports aside from sports betting.

[aervin11]

I could say that this is a step forward towards mass adoption. Upon stumbling with cryptocurrencies, it's pretty hard to manage because you yourself is your own bank and it might be a factor why crypto isn't yet massively adopted. As you said, we must have "awareness maintenance" which is true but I also wish that we could have "Prior Education" along with that so new people could understand what that promotion really stands for.

[auliasilvana]

I only see the positive aspects of the promotion and do not want to see the negative, because everyone has a different goal, but only one that is certain is to get a profit. I see that Litecoin does have a good strategy for developing coins.