Socios, known for its focus on creating fan engagement tokens for sports events, has recently revealed that FC Barcelona, a prominent football team, has made a substantial investment of $100 million in Barca Studios.
This strategic investment will grant Socios a significant 24.5 percent ownership in the club’s digital division. Moreover, it provides an opportunity for Socios to revamp its strategies in the Metaverse and Web3, aiming to incorporate additional revenue streams into its operations.
Socios Invests in Barcelona Studios!
Sports clubs are actively exploring opportunities in the Metaverse, aiming to diversify their revenue streams, a trend that has caught the attention of venture capital firms.
Socios, a company specializing in designing fan engagement tools for sports clubs, recently disclosed a significant investment of $100 million in Barca Studios’ Metaverse, NFT, and Web3 division. This strategic move has resulted in Socios acquiring a substantial 24.5 percent stake in the company, as officially announced by the club.
The collaboration is poised to propel the football club’s audiovisual, blockchain, NFT, and Web3 strategy forward, with a particular focus on accelerating the implementation of these technologies. The injected capital will enable the company to concentrate on developing innovative products that leverage these technologies, ultimately creating new and sustainable revenue streams for the long term.
Socios shared that Barca Studios will gain access to Chilliz Chain, a cutting-edge blockchain platform enabling the creation of NFTs, fan tokens, decentralized finance solutions, and play-to-earn games. Alexandre Dreyfus, the CEO of Socios, commented on the collaboration, highlighting the potential for Barca Studios to initiate the club’s Web3 content strategy and leverage their technology to drive new revenue streams in the seasons ahead.
Following this announcement, there was a notable surge in the price of BAR, the official token of FC Barcelona. The BAR token experienced a significant increase from $5 to $7.20, representing nearly a 50 percent rise immediately after the news broke.
This positive market response underscores the potential value and market confidence in the collaboration between Socios and Barca Studios in navigating the intersection of sports, technology, and the Metaverse.
Digital Growth of Barcelona!
Since earlier this year, the football club has demonstrated a keen interest in emerging technologies such as the Metaverse and NFTs, marking a significant step forward with the announcement of a dedicated unit for product development in these areas. FC Barcelona’s president, Joan Laporta, emphasized the importance of a digital focus within the club’s growth strategy.
In a statement, Laporta expressed the club’s intent to “create new opportunities for growth,” underscoring their commitment to winning championships, delighting fans, and leveraging opportunities within the sports industry for the club’s sustainability. Laporta acknowledged that embracing advancements in technology is not only a strategic choice but also a matter of survival.
As part of its foray into the world of NFTs, the club recently launched a special NFT collection, signaling its intent to explore new initiatives. The inaugural NFT collection, comprising 10 unique pieces, was notably sold for $693,000.
Additionally, FC Barcelona announced plans to continue the series, unveiling further initiatives with the aim of enhancing revenue streams. This move showcases the club’s proactive approach to embracing cutting-edge technologies and engaging with innovative digital platforms to secure its position in the evolving landscape of the sports industry.
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