MoonPay, a fintech company, is finally taking its first step into the sports industry by partnering with the Brazilian soccer club, Flamengo in a multi-year deal for various Web3-related initiatives.
The sports industry is actively joining the NFT bandwagon after seeing the potential and profit for fans and players. Many crypto firms like Binance have sealed deals with top clubs in recent months.
Although MoonPay hasn’t been actively involved with sports, this deal is the first sports partnership, marking a new beginning. In fact, the company is the official sponsor of Flamengo this season.
“MoonPay’s partnership with Flamengo can take that innovation to a whole new level. We’re excited to work hand-in-hand with the team to transform the business of sports,” says CEO Ivan Soto-Wright.
The partnership with one of the biggest soccer clubs will feature Web3 endeavors such as ticketing, loyalty programs, exclusive merch, and other digital content that fans can enjoy.
“This is another important contract we are signing…shows how engaged we are in once again growing Flamengo’s name with brands outside of Brazil,” Flamengo VP Gustavo Oliveira said.
Both parties also agreed that the partnership will be a long-term deal that will help MoonPay and Flamengo expand their brand in the Web3 space.
Other than the partnership announcement, no further details have been shared as of now but the MoonPay team might be actively working with the soccer club to launch a new project soon.