MoonPay continues to power sports, entertainment and culture this week. Crypto exchange and web infrastructure company3 announced a new partnership with Clube de Regatas do Flamengo, one of the biggest soccer clubs in Brazil. The two will collaborate on a variety of verticals as part of their multi-year deal, and the news comes on the heels of MoonPay’s activation around Halloween with entertainment partner Universal Studios.
Let’s take a look at what we can expect from MoonPay and Flamengo in the coming months.
MoonPay’s first major sports push
The Universal partnership, paired with Fox Corporation, was established in June and was arguably one of MoonPay’s biggest partners to date; the two are conducting an in-person NFT cart hunt at Universal Studios locations. In addition, last year the company partnered with sports organization FaZe Clan. MoonPay has previously been valued north of $3 million and has equity investments from athletes and entertainers like Justin Bieber, Maria Sharapova, Drake, Paul George and more.
However, this week’s deal is another new marker for the web3 platform, securing another major partner, this time outside the US, with Flamengo. MoonPay hasn’t been a frequent player in sports, making this week’s deal a new weapon in the platform’s arsenal as the company’s first sports club partnership. NFTs have proven to be a major focal point for MoonPay in recent months. Earlier this year, we covered MoonPay’s effort to build the HyperMint NFT platform.
FaZe Clan (NASDAQ: FAZE) went public this year, and partnered up with MoonPay last year. | Source: NASDAQ: FAZE on TradingView.com
What’s next?
With its new relationship with Flamengo, the Miami-based startup will look to help the Brazilian club with NFT integration around ticket sales, loyalty programs, merchandise and social media and other digital content. The three-year deal with the club will also include a shirt sponsorship with Flamengo Basketball. In a press release obtained by the Bitcoinist team, MoonPay co-founder and CEO Ivan Soto-Wright stated:
“NFTs and web3 technology have helped increase fan engagement and loyalty, as well as create hundreds of millions of dollars worth of new revenue streams for sports teams around the world… The partnership of MoonPay with Flamengo can take this innovation to a whole new level. We are excited to work hand-in-hand with the team to transform the business of sports.”
We’ll see what the two can bring to Brazil, widely considered an aggressive market for both crypto and soccer.
Featured image from Pixabay, Charts from TradingView.comThe writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
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