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Socios Owner Invests $100M In FC Barcelona's Web3 Efforts
Chiliz has acquired a 24.5% stake in Barca Studios, the Spanish soccer giant's digital-content creation arm.
Harshvardhan
3:36 1st Aug, 2022
Markets

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.

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