FC Barcelona is Developing their own Metaverse and will Create their own Cryptocurrency.
FC Barcelona president Joan Laporta confirmed that the club is working on their own Barca metaverse and is planning to launch an exclusive club cryptocurrency.
Speaking at the first day of the Mobile World Congress trade show in Barcelona, Spain, Laporta said an NFT collection is also in the works. FC Barcelona previously sought to create an NFT collection in November 2021 by partnering with Ownix. They later pulled out of the deal due to the arrest of a businessman linked with the company.
The 26-time LaLiga champions will not be the first major football club to enter the NFT space. Serie A giants AC Milan, Bundesliga heavyweights Bayern Munich, and top-tier Ligue 1 club Paris Saint-Germain have already entered the NFT marketplace. However, FC Barcelona did release the clubs’ $BAR Fan Token in 2021 and earlier this week the price skyrocketed over 50% in 24 hours.
Club Chooses to Develop Their Own Metaverse Property
On the club deciding to go the metaverse route alone, Laporta said, “We are developing our ‘metaverse’ and have refused to be associated with a cryptocurrency company. We want to create our own cryptocurrency, and we understand that we have to do it for ourselves; there is enough talent for that. With the blockchain, great opportunities and business opportunities appear.”
He went on to say that the players are on board and that as a modern club using social networks, there are provisions in players’ contracts for NFTs and the metaverse.
FC Barcelona Turned Down Cryptocurrency Company Sponsor Offers
Barcelona has not tried to court sponsorships with cryptocurrency exchanges. They rejected €70 million worth of offers from crypto companies before agreeing to a deal with music streaming service Spotify. The deal with Spotify replaces the agreement with their long-time sponsor Rakuten. Barca’s apprehension surrounding the volatility of the cryptocurrency industry came into play in the club’s decision to reject offers from cryptocurrency companies to be headline sponsors. However, Laporta believes that keeping up with innovation is the way of the future that clubs want to be a part of.
“Barca has always been innovative in the use and adaptation of new technologies, and we want it to continue to be so; we know that the blockchain will be important in the coming years, and the club does not want to miss out on that.”
Barca wants to be able to “survive financially” against other football clubs, which have the backing of major corporations and overseas investors. “We are different because we survive financially from what we can generate through the industry of sport,” said Laporta.
What will the New Club Cryptocurrency Purchase?
FC Barcelona has previously partnered with Socios.com and Chiliz to launch fan tokens for their worldwide fanbase. Chiliz is a sports blockchain provider and fan voting startup, while Socios is a fan rewards platform. By using the digital currency $CHZ, fans can purchase $BAR fan tokens, which give them the opportunity to vote on certain club decisions and the chance to earn rewards.
At this juncture, it is not clear how the new FC Barcelona cryptocurrency will be used. It could be a fan token like the $BAR token or it possibly could be used for purchases such as buying tickets and club merchandise. The new NFT collection release will be used as part of a project that will “help the club’s finances.”
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