Ukrainian Football team Dynamo Kyiv has partnered with blockchain startup Moonwalk to create a digital economy centered around fan engagement. The initiative aims to increase revenues for the team and enhance the fans’ experience.
Moonwalk’s platform will enable fans to earn tokens based on their participation with the team and spend them on Dynamo Kyiv’s stadium, at its digital marketplace, or on digital collectibles, which are only available to token holders. Participation is measured through ‘social actions’ such as playing predictive games or engaging in Dynamo’s social media platforms.
Dynamo’s sponsors and partners will also have access to the digital economy to improve their fan engagement.
The system allows users to make payments with digital tokens through a mobile wallet. Data about fans’ spending behavior will be collected by Moonwalk and shared with Dynamo so that the team can adapt their offerings accordingly.
“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,” said Greg Consiglio, Co-Founder and Chief Strategy Officer of Moonwalk.
Moonwalk believes digital economies powered by tokens and APIs create more opportunities for brand interaction, participation and spending. It says it helps by “tokenizing, integrating, rewarding, and monetizing” a brand.
Meanwhile, the global pandemic has forced sports teams to be innovative in how to monetize fan engagement, and blockchain has been increasingly present in teams’ new offerings and partnerships. Some of Europe’s top Football teams have partnered with blockchain collectible networks such as Sorare including FC Bayern Munich and Paris Saint German. Manchester City recently partnered with Animoca for blockchain games and collectibles.