Chiliz, the owner of blockchain-based fan rewards platform Socios.com, has invested $100 million in FC Barcelona’s non-fungible tokens (NFTs) and metaverse efforts.
The Gzira, Malta-based company, whose blockchain network focuses on sports applications, said Monday it acquired a 24.5% stake in Barca Studios, the Spanish soccer giant’s digital-content creation arm.
Barcelona is one of the many European clubs to have fan tokens listed on Socios.com. Rivals Juventus, Paris Saint-Germain and Manchester City also use the platform, which allows fans to purchase a club’s token and have a chance of winning VIP experiences.
The clubs are looking to take advantage of their global fan bases by seeking sources of revenue beyond ticket and merchandise sales. They are increasingly exploring digital rewards and engagement through the blockchain-based services provided by firms like Socios.
Socios said it intends to add impetus to Barcelona’s Web3-related plans, including new products and features for the club’s digital ecosystem.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
