Fan Tokens: We explain who is behind Barcelona’s third economic lever

Who is behind Barcelona‘s third ‘economic lever’? It’s time to find out. Today, the Blaugrana announced that Socios.com, the blockchain platform that created the Fan Tokens, will become the club’s technology partner, driving the club’s blockchain, NFT and Web3 strategies.

Under the agreement, Chiliz, the company that owns Socios.com, will invest 98 million euros into Barcelona Studios, the platform that focuses on the creation, production and distribution of the club’s audiovisual content, of which it will control 24.5%.

Barcelona Studios, which also coordinates projects linked to the world of NFTs and the metaverse, leads the club’s digital strategy and the multiple initiatives it develops to connect with the hundreds of millions of supporters around the world.

“This alliance will strengthen Barcelona‘s ability to create digital products that bring value to its fans and generate long-term sustainable revenue streams,” a statement read.

In addition, the agreement will provide greater utility to the $BAR Fan Token, allowing fans around the world to connect with the team beyond the Socios.com platform, as they have done in the past, through an innovative and immersive digital ecosystem that the club and Socios.com are building together. As part of this strategic investment, Socios.com and Barcelona will develop new projects together with other leading blockchain and Web3 technology brands.

This strategic investment reinforces the existing partnership between the two organizations since Barcelona agreed in February 2020 to launch its official $BAR Fan Token through Socios.com. Since that time, the $BAR Fan Token has enabled Cules around the world to connect and interact with the team like never before, enjoy exclusive promotions and earn multiple prizes and rewards through the Socios.com app, while consolidating a new source of revenue for the club. The sale of Fan Tokens has generated close to 38 million euros.

What is Socios.com?

Socios.com has been investing in Spanish football since 2019 and is currently an official partner of six LaLiga Santander clubs, which use the Fan Tokens and the Socios.com app to interact with their fans. More than 160 other sports organizations around the world, from global football giants to Formula 1 teams, major US professional league franchises, esports clubs and more are all linked to Socios.com

Through this agreement, Barcelona will also benefit from the technology and expertise of Chiliz, the leading blockchain solutions company for the sports and entertainment industry, and who are also responsible for the technology behind the Socios.com platform.

Among other advantages, this agreement will give Barcelona access to Chiliz Chain 2.0 (CC2), the first blockchain specialized in the sports and entertainment industry.

CC2 offers brands and companies in the sector the possibility of creating NFTs and Fan Tokens, as well as other digital products (DeFi, Play2Earn games, etc.) focused on maximizing the potential of Web3 and taking advantage of the multiple opportunities it will offer the sports industry. The mainnet of this blockchain will be launched before the end of 2022.

Alexandre Dreyfus, CEO of Socios.com and Chiliz was incredibly positive about the new partnership with the Catalan giants.

“Barca Studios will be able to leverage our experience and expertise to reinforce its Web3 strategy, allowing the club to open up new revenue streams that will benefit the club in the future,” Dreyfus declared in a statement.

“We strongly believe in the role that technology will play in creating communities that allow fans to connect more directly and actively with their favorite teams. The blockchain can give fans an active role in these communities.

“As the club’s technology partner, we will do whatever it takes to help FC Barcelona in its efforts to create new digital products that will bring it even closer to its 400 million fans around the world.”

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