Soccer giant secures millions to boost its Web3 presence.
Spanish soccer team, FC Barcelona, has locked 120 million euros (equivalent to $132 million) in a substantial investment for its forward-thinking project, Barça Vision.
The soccer club received funding from Libero Football Finance AG, a German firm offering financial consultancy services to soccer clubs and Nipa Capital BV, a Netherlands-based venture capital firm.
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According to the August 11th announcement, this funding mechanism involved FC Barcelona parting with a 29.5% stake in Bridgeburg Invest, the overarching entity that houses Barça Vision. Offering some insight, developers shared that:
Barça Vision is the Club’s initiative to integrate all digital content around Web3 and blockchain, including NFTs and Metaverse. It stands as part of the Club’s strategy to craft the digital Espai Barça.
It is worth noting that the finalization of this deal rests on the approval from FC Barcelona's shareholders, with expectations pointing towards transition in the last quarter of 2023.
FC Barcelona isn't entirely new to the blockchain domain. The football giants, back in February 2020, initiated a collaboration with the Chiliz blockchain to create Ethereum-backed FC Barcelona Fan Tokens (BAR). By August 2022, Chiliz amplified its involvement, acquiring 24.5% ownership in Barça Vision at a staggering price of $100 million.
May 2023 saw the soccer club make its debut in the NFT space, introducing a collection titled “Unleash Your Passion” in collaboration with Plastiks. Comprising 3,000 NFTs, each themed around wildlife and priced at $30, this initiative was more than just a collectible. It bore an environmental purpose – "removing 35,000,000 kilograms of plastic from our planet."
Following this, in July 2022, FC Barcelona sold its first NFT, “Masterpiece #1 In A Way,” fetching a breathtaking $693,000 at Sotheby's New York auction. Adding to the excitement, its subsequent NFT release, “Masterpiece #2 - Empowerment,” sold on the popular platform OpenSea and collected around $300,000.
FC Barcelona's endeavors in the blockchain and NFT arena highlight the club's determination to blend sports and cutting-edge technology. With the recent investments, it is clear the club is setting the stage for a digital revolution in soccer.
