FC Barcelona has turned down offers to collaborate with several cryptocurrency startups, confirming their desire to create their own digital currency further.
FC Barcelona President Joan Laporta revealed during the Mobile World Congress that the team intends to launch its own cryptocurrency as it tries to “survive financially” against soccer clubs controlled by large businesses and foreign investors.
After announcing the club’s plans to develop its own cryptocurrency and metaverse, Laporta stated that FC Barcelona is unique. It can live only on the revenue generated from its sport.
FC Barcelona turns down major crypto deals
The president and management board of FC Barcelona allegedly rejected a lucrative $79.4 million agreement with an unnamed crypto exchange. The exchange wanted to become the club’s jersey sponsor beginning next season, citing concerns that crypto is an “unethical” sector.
Marca, Spain’s leading sports publication, claimed that during the long search for a new shirt sponsor, Barcelona “received several bids from cryptocurrency exchange companies” that offered more money than Spotify. The music streaming service is now set to become Barça’s sponsor for the 2022-2023 season.
Unlike the majority of soccer clubs, FC Barcelona is owned and controlled by its supporters. Rather than stockholders, the club’s governance is delegated to around 160,000 members.
“We do not have big corporations or shareholders behind us. That forces us to be imaginative, innovative, brave, and be a step ahead in many areas that surround the sports industry.”
Furthermore, Laporta stated that the club plans to introduce a series of non-fungible tokens (NFTs) briefly. Laporta is optimistic that this project will be completed shortly, boosting the club’s profits.
It’s unclear what the soccer team intends to accomplish with its cryptocurrency; it might be a type of partner token or a way of paying for tickets and products. On the other hand, President Laporta assured supporters throughout the world that all would be revealed in due time.
FC Barcelona’s use of innovative technology to interact with fans is nothing new for the club. They have the Barça Studios, which produces and distributes audiovisual material. They also have an eSports squad that competes in a variety of tournaments.