Socios.com, a company dedicated to developing fan engagement tokens for sports organizations, has revealed that it will invest $100 million in the digital business of FC Barcelona soccer team Barca Studios. The investment will give Socios.com a 24.5% stake in the club’s digital division and allow it to reshape the division’s metaverse and web3 strategies to include more revenue streams.
Socios.com to invest in FC Barcelona’s Metaverse division
Sports clubs are now trying to diversify their revenue streams by entering the metaverse, attracting the attention of venture capitalists. Socios.com, a company that designs fan engagement tools for sports clubs, announced that it invest $100 million in metaverse, NFT and Web3 division of FC Barcelona football club, called Barca Studios.
With this investment, Socios.com will receive a 24.5% stake in the mentioned company, as the club announcement, and this will allow him to “accelerate the club’s audiovisual, blockchain, NFT and Web3 strategy”. This influx of capital will allow the company to focus on developing new products that include these new technologies to create new sources of long-term revenue.
According to Socios.com, Barca Studios will now have access to its Chilliz Chain, a new blockchain that will allow developers to issue NFTs and fan tokens, and create defi products and play2earn games.
Alexandre Dreyfus, CEO of Socios, said:
Barca Studios can now leverage our technology, expertise and global reach to help deploy the club’s Web3 content strategy and provide new, long-term revenue streams that will benefit the club for seasons to come.
Following this announcement, the price of $BAR, the official price token of FC Barcelona, Pink nearly 50%, from $5 to $7.20. The Fan Token allows holders to have a say in certain decisions through the Socios.com voting app.
Metaverse Growth Opportunities
The football club has been captivated by the metaverse and new technologies like NFT since earlier this year, when it announced the launch of a dedicated product development unit in the region. At the time, Joan Laporta, president of FC Barcelona, said his digital orientation was a very important part of his growth strategy.
We want to generate new growth opportunities. Our goal is to win titles and make our fans happy, but we must also take advantage of opportunities in the sports industry. It’s a question of survival.
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