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Sports fan-connecting app Socios.com announced a $100 million investment in Barca Studios, a project owned by football club Barcelona.
President Joan Laporta announced the cooperation deal worth $ 100 million during the introduction ceremony of rookie Jules Kounde on August 1. Barca’s homepage later confirmed Socios.com’s investment to buy back the club’s 24.5% stake in the Barca Studios project.
Socios.com is the leading Blockchain fan interaction application today. Barca Studios is a video and audio content distribution platform, as well as Blockchain technology, NFTs and Fan Tokens.
The partnership agreement is aimed at developing the ability to build digital products and provide a stable long-term revenue stream.
Socios.com’s experience in developing Blockchain technology to connect with global fans will be of great help to Barca Studios. In addition, the BAR token is also a tool to develop an ecosystem with the technology of Chilliz (the Socios.com developer).
In February 2020, Socios listed BAR, FC Barcelona’s fan token. To date, the platform has sold over 39 million Fan Tokens BAR.
In 2019, Socios.com invested in La Liga football league and so far has cooperated with a total of 6 teams participating in this tournament. In addition, Socios.com also serves as an application that connects fans with 160 global sports teams, across many sports such as basketball, rugby, UFC and even Formula 1 racing.
Alexandre Dreyfus, CEO of Socios.com said:
Barca Studios can leverage our technology and experience to help expand the content strategy in the Web3 space to provide a stable revenue stream in the long term. We are happy with the role technology can play in building community.
Recent moves show that FC Barcelona is focusing on stabilizing its financial situation after the crisis from last season. Funds are constantly pouring in and that comes from the whole Blockchain sector. On the evening of July 29, FC Barcelona held its first official NFT auction called “In a way, Immortal“. This NFT, in an animated and sound format, depicts the legendary Johan Cruyff’s volley against Atlético Madrid’s net during the match on 22/12/2973. The event helped Barca earn $ 693,000.
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