FC Barcelona reveals its plan to start its cryptocurrency and NFTs release

Spanish soccer giant is planning to launch its own cryptocurrency and non-fungible tokens (NFTS) to compete with other major European soccer clubs financed by foreign investors and social wealth funds.

FC Barcelona President Joan Laporta stated that they are exploiting technologies such as blockchain, non-fungible tokens (NFT), and the metaverse to create opportunities for development and embrace sustainability.

The club has been an honest critic of the ‘unsustainability’ of European football, a position that caused it to become a founding member of the failed European Super League experiment last year and has experienced well-publicised financial problems over the past year.

Laporta made similar arguments about sustainability at Mobile World Congress (MWC), a major event for the mobile industry in Barcelona, and argued that digital innovation could be a way for Barcelona to better compete with well-sponsored rivals that he considers are not subject to the same regulations.

He generally regards blockchain technology as a key instrument for the creation of compelling services for the club’s 300 million fans around the world. The introduction of these new technologies will generate revenue and engagement from fans all over the world.

“We are developing our Metaverse and our Web3 and we have rejected to be associated with a cryptocurrency,” he said, referencing the fact that Barcelona recently rejected a sponsorship offer from a crypto company. “We want to create our cryptocurrency that will be under the control of the club. We understand we have to do it ourselves and we have enough talent to develop all these. With Blockchain, there are a lot of opportunities”.

“We are innovative in the use and adaptation of technologies, and we will continue to be so,” he said. “In recent times there has been a lot of attention to blockchain products and services such as NFTs and metaverse. We should be able to offer digital products to our members, our fans that will align with the value of the club and generate a very interesting emotional experience.”

FC Barcelona, an institution with over 120 years of history is also in the process of renovating its Camp Nou stadium by embracing technology, improving sustainability, and prioritising inclusivity. It has already established Barca Studios to produce its content and the Barca Innovation Hub for new technologies.

Barca plans to expand and integrate all kinds of esports and entertainment areas of business.