Barcelona Football Club (Barca) intends to create its cryptocurrency to raise funds.
According to ESPN, Barca President Joan Laporta, revealed:
“Barcelona wants to create its cryptocurrency to help us survive financially against clubs owned by big corporations and foreign investors.”
President Joan Laporta said they would release NFTs soon. The team also plans to enter the cryptocurrency market.
The club has previously turned down several sponsorship deals from the industry. According to Laporte, Barcelona did not want to commit itself to crypto ventures to develop its metaverse.
“We’re developing our metaverse, [which is why] we rejected the chance to be associated with any cryptocurrency enterprises, We want to create our own cryptocurrency, and we have to do that ourselves. We are different because we survive financially from what we can generate through the industry of sport.”
He noted that digital products like NFTs are intended for Barcelona fans, whose number is about 300 million worldwide. He also said that he has something else to announce, but it is confidential.
“It’s something we can share with our fans around the world — around 300 million of them, I could announce something else, but I have to be prudent because it’s confidential still.”
Barça players are aware of the new directions the club is taking, and there are clauses in their contracts related to the NFT and the metaverse, the president added.
In November 2021, Barcelona announced the release of collectible digital assets in partnership with the Ownix marketplace. However, the club terminated the agreement due to the platform’s cooperation with crypto entrepreneur Moshe Hogeg, who was arrested for fraud and other crimes.
In 2020, Barcelona decided to issue a fan token, following Paris Saint-Germain, Juventus, West Ham United, and Atlético.