Chiliz invests 100 million in Barça to create Web3 strategies at the club

Source: Observatorioblockchain

Chiliz, owner of Socios.com, has invested $100 million in Barça Studios to accelerate FC Barcelona’s Web3, blockchain, NFT and digital asset strategies. Socios is a cryptocurrency platform specialized in the trading of fan tokens and NFTs. So far, Chiliz has acquired 24.5% of the Club’s digital content creation and distribution center.

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Socios highlights that Barça Studios leads the creation of NFTs and Club metaverse projects. He will also lead the digital strategy that helps the team create projects that build connections with global fans. The new partnership, according to Socios, will enhance the Club’s ability to create new, long-term sustainable revenue streams.

Chiliz for Web3 at Barça

The company highlights that BAR Fan Token will be key to creating a new range of opportunities towards new immersive digital ecosystems. Said ecosystems will be powered by the technology that Chiliz and Barça Studios will jointly build. «Socios and Barca Studios will develop projects that attract the most innovative blockchain and Web3 partners to create new functions in the FC Barcelona ecosystem,» the company note indicates.

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The collaboration between FC Barcelona and Socios dates back to February 2020, which was when the Fan Token BAR was launched. Since then, more than $39 million worth of BAR Fan Tokens have been sold. These digital assets allow Barça supporters to redeem rewards and unique experiences. Like the opportunity to play at the Camp Nou.

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DeFi, NFTs and Play2Earn games

The new agreement, says Socios, will allow Barça Studios to gain exposure to Chiliz Chain 2.0 (CC2), a blockchain created for the sports and entertainment industry. CC2 allows brands to mint NFTs and Fan Tokens, create DeFi products and Play2Earn games. CC2’s mainnet launch is scheduled for Q4 2020.