As a part of its strategic partnership deal with FC Barcelona, blockchain-based fan engagement platform Socios.com will accelerate the football club’s blockchain, NFT and digital assets, and Web3 strategies.
Chiliz, Socios.com’s owner and technology provider, will invest $100 million in Barça Studios, an organization responsible for overseeing FC Barcelona’s digital business offerings, and will acquire a “24.5% stake in the club’s digital content creation and distribution hub,” announced Socios.com in a Medium blog post.
However, this is not the first time the football club and the blockchain-powered platform have partnered up. The two teamed up in early 2020 for the creation of the BAR fan token, a form of cryptocurrency that provides a variety of perks like voting on club decisions, rewards, merchandise designs and more.
According to the statement from Socios.com, the deal will enable FC Barcelona to interact better with fans using digital assets, while enabling it to build better NFT and metaverse experiences.
“We are passionate about the role that technology can play in building communities that bring fans closer to their teams and each other,” said Alexandre Dreyfus, CEO of Socios.com and Chiliz. “Barça Studios can now leverage our technology, expertise, and global scale.”
FC Barcelona also confirmed the deal on Twitter, adding that Socios.com will help the football club advance its “audiovisual, blockchain, NFT and Web.3 strategy.”
“The $BAR Fan Token will be key to unlocking and creating a new array of opportunities that extend beyond the Socios.com app and into new, immersive, digital ecosystems powered by Chiliz technology that Socios.com and Barça Studios will build in tandem,” Socios.com added.
The firm confirmed that until now, over $39 million of BAR fan tokens have been sold, allowing fans to access “a vibrant engage-to-earn community, where participation enables fans to redeem rewards including VIP tickets, merchandise and unique experiences, such as the chance to play on the pitch at the Camp Nou.”
The deal will also allow Barça Studios to gain exposure to Chiliz Chain 2.0 (CC2), a novel blockchain created only for the sports entertainment industry.