Litecoin (LTC) has made another major move toward increasing the altcoin’s public awareness after the project’s foundation announced this week that it has become the “official cryptocurrency of the Miami Dolphins.”
We are excited to announce Litecoin as the Official Cryptocurrency of the Miami Dolphins! ?
— Litecoin Foundation (@LTCFoundation) July 11, 2019
According to the announcement, Miami Dolphins fans will now be able to pay for 50/50 raffles during Dolphins home games at Hard Rock Stadium with Litecoin and Bitcoin (BTC), with half of the proceeds going to the Miami Dolphins Foundation and its charitable causes. Additionally, Litecoin now has access to in-game branding and other advertising opportunities within the stadium.
“We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins,” said Charlie Lee, the creator of Litecoin and managing director of the Litecoin Foundation. “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. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”
This isn’t the first major sports sponsorship that Litecoin has secured. Back in December, Litecoin became the crypto partner of UFC 232: Jones vs. Gustafsson 2, a fight between former UFC light heavyweight champion Jon Jones against Alexander Gustafsson. This marked the first UFC-crypto sponsorship arrangement.
Shortly after that time, the Litecoin Foundation revealed a new partnership with Glory Kickboxing, the world’s premier kickboxing organization. As part of the arrangement, Litecoin is now an accepted payment method on GLORYshop.com, GLORY’s online merchandise platform.
Given the large-scale nature of the Miami Dolphins announcement, it would not come at a surprise if Litecoin’s price were to begin moving higher again, especially as the altcoin approaches its much-anticipated block reward halvening event in roughly 22 days.
Litecoin has significantly underperformed Bitcoin over the course of the last month and is currently trading $90 with a market cap of $5.64 billion.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.