FC Barcelona Wants its Own Cryptocurrency, Seeks to Become Independent

With several sports clubs getting sponsored by large cryptocurrency companies, Barcelona refused to partner with one because the club reportedly has plans to create its own digital assets. 

Based on the report by ESPN, the president of FC Barcelona Joan Laporta announced at the Mobile World Congress that the club is looking at its options to create NFTs and tokens so that it can "survive" by itself. According to him, the club will firstly release NFTs in order to get initial backing and start operating independently.

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When Laporta was asked about the current state of Barca’s NFT and crypto project, he stated: 

"We're developing our own metaverse, which is why we rejected the chance to be associated with any cryptocurrency enterprises. We want to create our own cryptocurrency and we have to do that ourselves. We are different because we survive financially from what we can generate through the industry of sport."

The president of Barca also added that the project will be shared with "fans around the world", which could mean that the soccer club is looking to launch a DAO, with public investments from fans, who could become "shareholders."

FC Barcelona’s resistance from crypto investors might have stemmed from an NFT marketplace Ownix which partnered with the soccer club for a very short time. It was cut short because the owner of the NFT marketplace was charged with crypto fraud, after which Barca immediately canceled the partnership with Ownix.

Likewise, Barca was rumored to pick up Binance as their main sponsor back in January. However, the deal seemingly never went through.