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MoonPay enters Brazil market with Flamengo football club sponsorship

The country’s most popular sports team will leverage NFTs and web3 to deepen fan engagement.

6 Oct 2022by Geoffrey Lyons

MoonPay has officially entered the Brazilian market through our sponsorship of Clube de Regatas do Flamengo, the country’s most popular football team.

As part of the deal, MoonPay will help Flamengo leverage NFTs and web3 to deepen fan engagement.

MoonPay is also becoming a major sponsor of Flamengo’s basketball team, whose new season starts later this month.

“NFTs and web3 technology have helped increase fan engagement and loyalty as well as create new revenue streams worth hundreds of millions of dollars for sports teams around the world,” said MoonPay’s co-founder and CEO, Ivan Soto-Wright. 

“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.”

On October 5th, Soto-Wright visited Flamengo’s headquarters in Rio to watch the Flamengo vs Internacional match at the iconic Maracanã stadium. Before the game, Flamengo presented the new basketball jersey for the 2022-23 season with the new sponsorships.

The partnership highlights the union of two globally-recognized brands and marks MoonPay’s entry into Brazil, the largest market in Latin America and the fifth largest market in the world.

“This is another important contract we are signing with an international brand, which shows how engaged we are in once again growing Flamengo’s name with brands outside of Brazil,” said Flamengo’s Vice-President of Marketing and Communications, Gustavo Oliveira. 

“This initial agreement with MoonPay, an innovative American technology company, has the potential to become a great long term partnership.”

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