Barcelona plan to launch own cryptocurrency and NFTs to raise revenue

Rumour has it that FC Barcelona will be throwing its own cryptocurrency and NFTs into the mix! It all began with President Joan Laporta mentioning this fresh and exciting initiative for their fans. What is the goal of this new endeavour? Barcelona is ready to pursue this move in order to compete with other major European soccer clubs financed by foreign investors and sovereign wealth funds.

Laporta believes that this current technology improvement will help the major club compete with this new money. They are ready to utilise its history and heritage while engaging a global fan base that may never get the chance to visit the club’s magnificent Camp Nou Stadium.

Why now?

Barcelona has the ability to obtain the same resources as their opponents; so, why not sooner? The issue is that competing is tough when the rules for each club differ. Barcelona, like many others, is constructing its metaverse and Web3 but will not partner with cryptocurrencies. Barcelona will undoubtedly be busy, as the club will be managing its own cryptocurrency.

Learn more about football in the metaverse, including Manchester City’s plans to build the Etihad Stadium in the metaverse.

According to Laporta, we can expect to see their first NFTs very soon, which will help the club’s finances. This major club has an astounding 300 million fans globally, and this new move will serve as a way to register each and every one of them.

The growing use of Blockchain-based technology by sports clubs and federations has sparked concern among many who believe it is an unregulated domain with little value for fans whose loyalty is exploited. Several sports clubs and federations have signed sponsorship deals with cryptocurrency companies, created fan tokens, and launched NFT collections. Barcelona witnessed the creation of its own fan token, but the club was forced to terminate its NFT partnership with Ownix. This loss hasn’t dampened Barcelona’s enthusiasm for new technologies; rather, it has strengthened its resolve to maintain as much control as possible.

Discover the latest Barcelona news, such as the club’s new jersey sponsorship agreement with Spotify.