FC Barcelona receive $100m from Socios.com for Web 3.0 plan

Chiliz will acquire 24.5% stake in Barça Studios, the club’s digital content creation hub

FC Barcelona logo as seen on a football jersey                                 
FC Barcelona have announced that Socios.com will become a “strategic technology partner” – Photo: Getty Images
                                

FC Barcelona have announced that blockchain-powered fan engagement and reward app Socios.com will become a “strategic technology partner accelerating FC Barcelona’s blockchain, non-fungible token (NFT) and digital assets, and Web 3.0 strategies”.

The team that competes in LaLiga, the topflight of Spanish football, will see Socios.com owner, Chiliz the global blockchain provider for the sports industry, invest $100m to acquire a 24.5% stake in Barça Studios, the club’s digital content creation and distribution hub.

In a statement, Socios.com said: “The new partnership will enhance the club’s ability to deliver meaningful digital products to fans and build new long-term sustainable revenue streams.”

Barça Studios will be able to “draw on Socios.com’s extensive experience in blockchain technology to deliver utility that connects fans with the Club”, added the statement. 

The $BAR Fan Token

The $BAR Fan Token that was launched by Chiliz in February 2020 for FC Barcelona fans will, according to Socios.com, be the “key to unlocking” the new features Socios.com and Barça Studios build together.

Since 2020 more than $39m (£31m) of $BAR Fan Tokens have been sold. Holders of the Fan Token have access to exclusive discounts and promotions as well as the chance to earn unique rewards such as signed merchandise, VIP tickets and the chance to play on the pitch at Camp Nou, the home stadium of FC Barcelona.  

‘Blockchain technology can provide fans with a role in their communities’

Alexandre Dreyfus, CEO of Socios.com, and Chiliz said: “Barça Studios can now leverage our technology, expertise, and global scale to help roll out the club’s Web 3.0 content strategy and deliver long, new-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 Web 3.0 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 400 million followers worldwide.”

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