FC Barcelona FC Sells Near-Quarter stake in Barca Studios to Web3 Company

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One of the most elite football clubs in Europe, FC Barcelona, has announced a multi-million euro agreement with Socios.com, the blockchain-based platform for sports fan engagement.

Chiliz, the owner and technology supplier of Socios.com, announced they will spend €100 million ($102 million) to buy around 25% of Barça Studios, which oversees the club's audiovisual productions and online services.

Investment allows Chiliz to deepen partnership with FC Barcelona

The initial partnership betweenSocios.com and the team began in February 2020 with the introduction of FC Barcelona's "fan token," known as BAR.

According to a Socios.com press release, the money will enable the team to strengthen its NFT and metaverse projects, as well as enhance fan engagement and community-building strategies through the utilization of digital assets. Through the cooperation, BAR tokens will have access to uses outside of Socios.com's platform.

"We are excited about the role technology can play in creating communities that connect fans to their teams and to each other," Alex Dreyfus, CEO of Socios.com and Chiliz, said in a press release. "Barça Studios can now take advantage of the technology, the knowledge, and the worldwide reach."

FC Barcelona announced the agreement on Twitter shortly after the Socios.com Medium post went live, adding that it will help the team progress in their "audiovisual, blockchain, NFT, and Web3 strategy."

The heavily indebted team sold 15% of its La Liga TV earnings earlier this summer to American investment fund Sixth Street. The deal was broken up into two installments for a total of €400 million, euros leading into before going on a spending binge on new players. Acquisitions include Jules Kounde from Chelsea, Raphinha from Leeds, Robert Lewandowski from Bayern Munich, Franck Kessie from AC Milan, and Danish central defender Andreas Christensen from Chelsea on free transfers.

Unlike the 25-year agreements with Sixth Street, the sale to the Socios.com platform is irrevocable.

 

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