FC Barcelona has revealed Socios.com as a strategic technology partner in a bid to build upon the club’s blockchain, NFT and digital assets, and Web3 strategies.
The partnership will see Socios.com owner and technology provider, Chiliz, invest $100M in Barça Studios to acquire a 24.5% stake in the club’s digital content creation and distribution hub.
The fan engagement platform previously introduced the $BAR Fan Token, which the pair have nighlighted will be ‘key’ to unlocking opportunities that extend beyond the Socios.com app and into new, immersive, digital ecosystems.
Building on an existing partnership with the club, which began in February 2020, Socios.com and Barca Studios will now look to develop projects that attract the innovative blockchain and Web3 partners to build new features in the Barcelona FC ecosystem.
Since the initial deal, it has been reported that over $39M of $BAR Fan Tokens have been sold, which both groups have stated provide a ‘vibrant engage-to-earn community’.
The new agreement will also allow Barça Studios to gain exposure to Chiliz Chain 2.0 – the first Layer-1 blockchain created especially for the sports and entertainment industry.
Socios.com has been investing in La Liga and Spanish football since 2019, and now holds partnerships with six of these top-flight teams whilst also having entered into fan engagement and rewards deals with over 160 sports clubs globally.
Earlier this year, Serie A also made relations with the platform in becoming an official partner of the Italian league. This collaboration also saw the brand named as the main sponsor of the Supercoppa Frecciarossa and Coppa Italia Frecciarossa Finals.
Speaking to Insider Sport earlier this year, Dan Sormaz, Head of Design at Sorare – another NFT-based sports platform – stated that these types of products in sports have evolved massively.
“More and more interactions are moving online, and local fan bases are turning into global communities,” he added.
“As a result, there is an inherent desire for deeper and more connected digital experiences between fans and their favourite leagues, clubs and athletes. Fans don’t want to engage with football games passively, they want to participate and invest in what they love.”