The Litecoin Foundation has teamed up with the Miami Dolphins NFL franchise to make LTC the team’s “official cryptocurrency”. The deal will in-game branding and sponsorship opportunities at the Hard Rock Stadium, which seats almost 65,000 people. The partnership will launch with the 2019 NFL season, which kicks off on September 5.
Litecoin will be available as a payment option for the Miami Dolphins’ 50/50 raffle program, where half of the proceeds are dedicated to charitable causes.
Litecoin Foundation managing director Charlie Lee commented on the partnership:
“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.”
The foundation is no stranger to making deals in the sports industry. For example, the UFC 232 event held by the Ultimate Fighting Championship mixed martial arts organization featured Litecoin branding on the canvas of the octagon. Welterweight division UFC fighter Ben Askren has also promoted LTC.
While the increased visibility can’t hurt, most Litecoin users and holders are focused on the upcoming block reward halving, which is expected to happen on August 5. When the halving goes live, LTC miners will receive 12.5 LTC per block instead of 25 LTC. Litecoin has displayed a tremendous run in anticipation of the halving, as the coin is up 180% since January 1. However, LTC has been hit with a substantial correction recently, losing 35% in the last 30 days.