Ukraine based football club, Dynamo Kyiv has partnered with blockchain firm Moonwalk to create its digital economy. This was announced in a press release today and will be the first of its kind for a football club.
Fan based digital ecosystem
According to the report, Moonwalk will help the football club to build a sports ecosystem that is centered around its fan community. The digital ecosystem provided by Moonwalk will enable Dynamo Kyiv to provide its fan base with a comprehensive reward and payment economy.
This will be powered by a team-branded digital token that will be launched on the Moonwalk blockchain. This initiative is expected to increase the revenue of Dynamo Kyiv while increasing fan participation in a period where fans can’t access stadiums due to the Covid-19 pandemic.
Fans will be able to earn digital tokens based on their participation with the team and spend the tokens in the Dynamo Kyiv stadium and in the club’s digital marketplace. In addition, the ecosystem will be interconnected with a mobile payment system that would enable fans to earn and make payments in digital tokens both online and in-person.
Speaking on the partnership, Moonwalk chief Greg Consiglio believes that it shows the benefits of blockchain technology. The intention of our partnership with Dynamo Kyiv is to create the blueprint for how premiere brands can create social economies that capitalize on the vast benefits of blockchain and digital tokens to better engage, reward, and monetize their communities, partners, and sponsors.
Dynamo Kyiv owner Ihor Surkis echoed similar sentiments and believes the initiative would help the club monetize its large fan base. We’re thrilled at the opportunity to offer our fans these tremendous benefits that create increased engagement in our games while also improving how we monetize these experiences throughout the year.” He said.
Sports Clubs Increasingly Launching Fan tokens
Sports brands have taken increasingly to blockchain technology in recent months due to the potentials. Fan tokens have become the norm with several football clubs launching fan tokens in 2020.
Famous clubs like Barcelona and PSG have launched tokens which have gone on to be listed on popular exchanges like Binance. These tokens are typically a form of incentive for fans to own stakes at the clubs. Dynamo Kyiv will be hoping to join a list of clubs that have successfully launched fan tokens.