Socios.com invests €100 million in Barça Studios
A 24.5% stake has been acquired in FC Barcelona's Web3 division, with the sale helping the club to accelerate its NFT, blockchain, audiovisual and Web3 strategy.
Socios.com has formed a strategic technology partnership with FC Barcelona, leading to the owner of the engagements & rewards platform for sports fans, Chiliz, investing €100 million in Barça Studios, the club’s Web3 arm.
This investment means that a 24.5% stake has been acquired in the “Club’s digital content creation and distribution hub.” The goal of this sale is to help the club accelerate its blockchain, audiovisual, NFT and Web3 strategy.
The CEO of Socios.com and Chiliz, Alexandre Dreyfus, said the following in a press release:
“Barça Studios can now leverage our technology, expertise, and global scale to help roll out the Club’s Web3 content strategy and deliver new long term revenue streams that will benefit the club for seasons to come. We are passionate about the role that technology can play in building communities that bring fans closer to their teams and each other. Blockchain technology can provide fans with a role and membership in their communities that cannot be removed or revoked, or spent or expire.
Moreover, the application of blockchain technology can take the fan experience far beyond an app based engagement and reward structure and deliver utility and connectivity across the metaverse, providing a way to connect a limitless number of web3 projects.
As their trusted technology partner we’ll do everything we can to support them in their efforts to build new and rewarding digital connections with their 400m followers worldwide.”
Barça Studios is the club’s Web3 division focused on creating metaverse and NFT-related projects while helping the club connect, reward and engage with its fanbase through various projects. This new strategic investment is one of the ways that aims to help them do just that. The digital-focused studio will make use of “Socios.com’s scale across international fan communities” in an effort to “reach fans and produce revenue streams in new geographies.”
This isn’t the first time that the club has worked together with Socios.com. In fact, they first partnered up back in February 2020 in order to launch the $BAR fan token on the sports platform.
The club’s official fan token, $BAR, will be used to form digital ecosystems using Chiliz technology. With this new agreement, Barça Studios will get to use Chain 2.0 (CC2), which represents the first Layer-1 blockchain made specifically “for the sports and entertainment industry.” This network enables the creation of fan tokens, minting NFTs, developing play-to-earn games, loyalty programs and more. The mainnet of CC2 is planned to launch in Q4 this year.
FC Barcelona launched their first NFT called “In a Way, Immortal” last month.