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FC Barcelona Plans to Create Its Own Cryptocurrency: Report
The club has rejected offers to be associated with crypto enterprises because it wants to develop its own cryptocurrency and its own metaverse.
Updated May 11, 2023, 7:11 p.m. Published Mar 1, 2022, 11:34 a.m.
Spanish soccer giant FC Barcelona wants to create its own cryptocurrency, its president has said, according to a report by ESPN.
- The club has rejected offers to be associated with crypto enterprises because it wishes to develop its own cryptocurrency and its own metaverse, Joan Laporta said at Mobile World Congress in Barcelona this week.
- "We want to create our own cryptocurrency and we have to do that ourselves," Laporta said. "We are different because we survive financially from what we can generate through the industry of sport."
- Unlike the majority of major soccer clubs, Barcelona is owned and operated by its fans. Governance of the club is built around 160,000 members rather than shareholders. It was the world's most valuable soccer club in 2021, according to Forbes.
- "We do not have big corporations or shareholders behind us. That forces us to be imaginative, innovative, brave and be a step ahead in many areas that surround the sports industry," Laporta said.
- Laporta said the club will launch a range of non-fungible tokens (NFT) in the near future, following plans initially announced in November.
- It is unclear at this point what Barcelona's crypto would be used for, whether it be a form of fan token akin to those offered by Socios or a means of payment for tickets and merchandise.
- The club did not immediately respond to CoinDesk's request for further comment.
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Read more: Fan Token Site Socios Sues Argentine Soccer Association for Signing Competing Deal With Binance
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