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Socio.com Injects $100M To Accelerate FC Barcelona’s Web3 Innovation

1 Mins read

Web3 is one of many disruptive technological innovations that are reshaping our world. The fact is, we won’t have it the way we have always done with the beehive of technological changes web3 and all others are bringing into the technological space.

Whilst traditional companies hesitate in adopting these improved technologies, startups are not leaving anything to chance in exploring these opportunities to thrive.

As we recount increase in web3 startups, many more are still brewing.

FC Barcelona Web3
Barca Studios was launched in 2019 as the club’s platform for creating and distributing video and audio content.

Earlier in 2020, FC Barcelona partnered with Socios.com to launch its $BAR Fan token. So far, over $39 million $BAR tokens have been sold. $BAR token hit an all-time high of $79.26 in April 2021. It has since declined over 92%, trading at about $6 as of press time.

The partnership with Socios.com is set to deliver more NFT and metaverse-related projects to help engage, reward, and build connections with the club’s global fan base.

Socio.com
Socios.com is a fan engagement and reward platform powered by the Chiliz blockchain. Sports fans can participate and influence decisions by purchasing tokens of their respective clubs using the native Chiliz token (CHZ).

The platform uses the Chiliz blockchain infrastructure to launch Fan tokens and engagement features for a sports brand. So far, it has created tokens for football clubs, including Paris Saint-Germain, Juventus, AC Milan, Inter Milan, Napoli, Manchester City, Arsenal, and UEF.

Non-football brands like NBA and NBL teams have partnered with Socios.com to develop fan engagement features and adopt strategies to further their Web3 initiatives

Socios.com is out to invest a whooping sum of $100 million in Barca Studio for a 24.5% stake and aims to accelerate blockchain, non-fungible token (NFT), and digital assets innovation for FC Barcelona.

Web3 projects from Barca Studios will launch on Chiliz Chain 2.0 (CC2), a Layer-1 blockchain designed for the sports and entertainment industry. With CC2, sports brands will be able to mint NFTs and Fan tokens for use across DeFi products and Play2Earn games. CC2 mainnet is scheduled to launch in Q4 of 2022.

What you have seen, all you must have heard, are little to what will become of us in Web3 space. We sit and watch things unfold in the coming days.

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We are the same, we may only be different in our experiences, values and exposures. Technology is a big part of my experience, learning is one of my values and writing my credible means of exposure.
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