FC Barcelona Planning to Develop Native Cryptocurrency and Metaverse

A new metaverse, cryptocurrency, and NFT collection are in the works for the 26-time LaLiga champions FC Barcelona.

A recent announcement from Barcelona president Joan Laporta confirms that the squad is working on a Barca metaverse, with further plans to launch an exclusive club cryptocurrency.

Laporta said an NFT collection is also in the works, speaking during the first day of the Mobile World Congress in Barcelona, Spain. Barca sought to create an NFT collection in partnership with Ownix in November 2021 but pulled out due to the arrest of a businessman linked with the company.

Italian giants AC Milan, Bundesliga heavyweights Bayern Munich, and top-tier French club Paris Saint-Germain have already entered the NFT marketplace.

Of the club’s choice to go the metaverse route alone, Laporta said, “We are developing our ‘metaverse’ and have refused to be associated with a cryptocurrency company. We want to create our own cryptocurrency, and we understand that we have to do it for ourselves; there is enough talent for that. With the blockchain, great opportunities and business opportunities appear.”

He went on to say that the players are on board and that as a modern club using social networks, there are provisions in players’ contracts for NFTs and the metaverse.

No crypto headline sponsor for FC Barcelona

Barcelona hasn’t rushed to court sponsorships from cryptocurrency exchanges, rejecting €70 million worth of offers before agreeing to a deal with music streaming service Spotify, which replaces long-time sponsor Rakuten. Apprehension surrounding the volatility of the cryptocurrency industry caused the club to reject cryptocurrency companies as headline sponsors. Now, however, Laporta believes that keeping up with innovation is the way of the future that clubs want to be a part of.

“Barca has always been innovative in the use and adaptation of new technologies, and we want it to continue to be so; we know that the blockchain will be important in the coming years, and the club does not want to miss out on that.”

Barca wants to be able to “survive financially” against other football clubs, which have the backing of major corporations and overseas investors. “We are different because we survive financially from what we can generate through the industry of sport,” said Laporta.

What would the new cryptocurrency purchase?

The team had previously partnered with Socios and Chiliz to launch fan tokens for the general public. Chiliz is a blockchain fan voting startup, while Socios.com is a rewards platform. By using the digital currency $CHZ, fans can purchase Barca fan tokens, granting them the opportunity to vote on certain club decisions and the chance to earn rewards.

It is unclear what the new team cryptocurrency would be able to purchase, whether it would be a fan token like the $CHZ token or used to buy tickets and club merchandise. The new NFT collection will be used as part of a project that will “help the club’s finances.”