The Miami Dolphins, a football team, based in Miami, Florida, signed an agreement with Litecoin Foundation to make Litecoin it's “official cryptocurrency.”
The two parties partnered just ahead of the commencement of 2019 National Football League (NFL) season which is scheduled to start on September 5.
Under the agreement, Litecoin will be allowed to promote itself to the NFL viewers through in-game branding and advertisements at Hard Rock Stadium. In addition, the digital currency can also promote itself on the team's various online properties and digital contents.
“This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of Cryptocurrencies continues to gain momentum and the ecosystem is able to support real-world use cases in ways previously not possible,” Charlie Lee, creator and managing director of Litecoin Foundation, said.
“We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
The football team and the crypto organization also partnered with Aliant Payments to enable attendees of the home game to purchase tickets with Litecoin and Bitcoin for its upcoming 50/50 raffle. Per the announcement, half of the proceeds will go to various charitable foundations including the Miami Dolphins Foundation.
“The Miami Dolphins are always looking for ways to enhance the fan experience, and this partnership with Litecoin provides the ability for guests to enjoy our 50/50 raffle while donating to a great cause,” Kim Rometo, vice president and chief information officer at Miami Dolphins, added.
We are excited to announce Litecoin as the Official Cryptocurrency of the Miami Dolphins! ?
Litecoin Foundation is partnering with @MiamiDolphins and @AliantPayment to allow NFL fans to #PayWithLitecoin. Read more about it here: https://t.co/CD6ja1AQHI pic.twitter.com/RJ09xfRkmz — Litecoin Foundation (@LTCFoundation) July 11, 2019
The lucrative sports marketing
Litecoin is strategically investing in the lucrative sports industry with a massive fan base. Last year, the digital currency sponsored a fight in the Ultimate Fighting Championship (UFC) and became the first crypto sponsor in the octagon ring.
Meanwhile, in the secondary market, Litecoin added significantly to its value. As of press time the coin is trading at $105, according to Coinmarketcap.com, compared to $23 in December.
