FC Barcelona, one in every of Europe’s most prestigious soccer golf equipment, introduced a multi-million euro partnership with Socios.com, the blockchain-based sports activities fan engagement platform.
Socios.com’s proprietor and expertise supplier, Chiliz, will make investments €100 million (~$102 million) to accumulate practically 1 / 4 of Barça Studios, which manages the membership’s audiovisual productions and digital enterprise choices.
The funding comes after Socios.com started collaborating with the membership again in February of 2020 with the launch of FC Barcelona’s “fan token” known as BAR.
According to a press launch from Socios.com, the funding will allow the membership to construct higher NFT and metaverse initiatives, whereas with the ability to refine its strategy to participating with followers and constructing neighborhood by way of using digital property.
The partnership intends to create alternatives for using BAR tokens that stretch past Socios.com’s platform.
“We are passionate about the role that technology can play in building communities that bring fans closer to their teams and each other,” mentioned Alexandre Dreyfus, CEO of Socios.com and Chiliz. “Barça Studios can now leverage our technology, expertise, and global scale.”
Shortly after Socios.com disclosed the deal, FC Barcelona confirmed the information on Twitter, stating it’ll assist the membership advance its “audiovisual, blockchain, NFT and Web.3 strategy.”
FC Barcelona and crypto
Fans have already bought over €39 million ($40.07 million) price of BAR tokens from Socios.com, in keeping with the firm, which yield entry to an engage-to-earn platform. Participating in the neighborhood can result in VIP tickets for followers, merchandise, and different alternatives, like with the ability to play on the pitch at FC Barcelona’s house stadium, Camp Nou.
In August of final yr, the membership’s president, Joan Laporta, disclosed that FC Barcelona was €1.3 billion ($1.34 million) in debt, main the group to let go of star participant Lionel Messi as a result of they might not afford to maintain him and hunt down funding.
It took a €595 million ($611 million) mortgage from funding financial institution Goldman Sachs that month and reached a brand new sponsorship take care of Spotify in March.
The world of sports activities has more and more turn out to be a ripe panorama for Web3 firms to seek out favorable agreements and promote blockchain-based merchandise by way of publicity. A ballot this yr discovered that avid sports activities followers are twice as prone to personal NFTs or cryptocurrencies, and Manchester City F.C. lately added cryptocurrency platform OKX as coaching equipment companion.
Socios.com, based in 2018, has established partnerships with over 100 sports activities organizations all through quite a few international locations, together with 20 NBA groups and 13 NFL groups, and people combating in the UFC.
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