March 2, 2022
By Priyanka Shetty
Barcelona president Joan Laporta has announced that the team is working on creating what they call a Barça metaverse apart from also developing the club’s own cryptocurrency.
Here’s what you should know
- When the crypto company Socios launched as a platform for professional sports team fan tokens in 2019, one of the first major franchises to embrace it was FC Barcelona, the world’s most valuable soccer team, according to Forbes.
- Barca’s launch of cryptocurrency and the metaverse is planned to go along with a previously announced line of non-fungible token (NFT) collectable tokens. NFT isn’t new to football. The NFT market is already captured by a few football teams across the globe, including AC Milan, Bayern Munich, and Paris Saint-Germain, to name a few.
- “We want to create our own cryptocurrency and are developing our ‘metaverse’ and have refused to be associated with a cryptocurrency company,” said Laporta.
- In fact, Barcelona had previously rejected €70 million worth of sponsorship deals received from various cryptocurrency exchanges before settling with Spotify.
- However, while speaking at Mobile World Congress 2022, the club president said that going along with the current innovation is the way to go, and the team does not want to miss out on that.
About the author
Based in Bengaluru, Priyanka Shetty is a freelance writer for Blockchain Asset Review.