Barcelona has sold a 24.5% stake in its Barca Studios, an in-house production company to Socios for $100 million.
The LaLiga giant says it will leverage its relationship with Socios to grow its Web 3.0 strategy and also channel the investment into buying new players to boost the team.
This transaction is the third deal the club made, they have already sold 25% of their domestic broadcast income for the next 25 years and members have approved the sale.
Alexandre Dreyfus, Socios chief executive in a press statement said: “Barca Studios can now leverage our technology, expertise, and global scale to help roll out the club’s Web 3.0 content strategy and deliver new long-term revenue streams that will benefit the club for seasons to come.
“We are passionate about the role that technology can play in building communities that bring fans closer to their teams and each other. Blockchain technology can provide fans with a role and membership in their communities that cannot be removed, revoked, spent or expire.
“Moreover, the application of blockchain technology can take the fan experience far beyond an app-based engagement and reward structure and deliver utility and connectivity across the metaverse, providing a way to connect a limitless number of web 3.0 projects.
“As their trusted technology partner we’ll do everything we can to support them in their efforts to build new and rewarding digital connections with their 400 million followers worldwide.”
Barcelona launched their fan token with Socios back in February 2020 and has sold more than US$39 million worth of blockchain-based assets so far
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