Dynamo Kyiv Is Set to Launch a Blockchain-based Fan Tokens

Last Modified:8 Feb 2021 13:07:27
Dynamo Kyiv Is Set to Launch a Blockchain-based Fan Tokens

The famous Ukrainian football team Dynamo Kyiv intends to launch a Blockchain-based marketplace for its fans in addition to tokens.

The move is so that this team could conjure up a new source of income for itself. The team has recently announced that through a partnership with Moonwalk, which is a company whose specialization is digital economies for well-known and famous brands, it will introduce a marketplace for its fans which is run based on the Blockchain technology.

The fans of Dynamo Kyiv will then be able to gather digital tokens by performing social actions, for example taking part in prediction games or getting involved in the social media of the club.

When the digital tokens are collected, they can then be used in order to be redeemed for club’s merchandise, going to VIP events, or getting discounts when they want to purchase goods at the club’s stadium. Users can also use these tokens to purchase collectible items at the marketplace of the team.

These digital token can be used via a mobile phone app both online and offline.

This decision has been made by the Dynamo Kyiv in order to ameliorate some of the damages that have been sustained by this club during the Covid-19 pandemic and quarantine. Given the fact that limitations and lockdowns still persist in many places of the world and especially Europe, footballs clubs are seeking various ways of gaining revenue.

As previously mentioned, the Coronavirus restrictions have forced many football clubs to shift their focus toward new means of income. Dynamo Kyiv is not the only team that has started its route toward new and alternative methods to gain revenue.

Previously, other well-know and prominent football clubs such as FC Barcelona, Atletico de Madrid, Paris Saint Germain, Juventus, and Bayern Munich have launched their similar programs utilizing digital tokens and Blockchain-based platforms.

The government of Ukraine has always had a positive and welcoming attitude toward the Blockchain technology. The Ukrainian Digital Transformation Ministry has been working on creating regulations for Blockchain that are by and large positive and straightforward.

Dynamo Kyiv is one of the two biggest football clubs of Ukraine along with FC Shakhtar Donetsk. Even though it succeeded in winning the 2020 premier league of its own country, Dynamo Kyiv failed to advance in Europa League and also to quality for the UEFA Champions League.