Barça president outlines plan to launch its own cryptocurrency

The football club Barcelona intends to create its own cryptocurrency to raise funds. This was announced by president Joan Laporta, according to ESPN.

Speaking at the Mobile World Congress trade show, Laporta said that in the near term Barca will release NFT. The team also plans to enter the cryptocurrency market.

Earlier the club rejected a number of sponsorship proposals from industry representatives. According to Laporta, Barcelona did not want to bind itself to obligations with cryptocurrency ventures, as it develops its own metaverse.

“We want to create our own cryptocurrency and we must do it. We differentiate ourselves by surviving on what can be generated through the sports industry. We are not backed by large corporations or shareholders. This compels us to be inventive, bold, and innovative”, — the club president emphasized.

He noted that digital products are aimed at Barcelona’s fans, estimated at around 300 million worldwide.

“I could announce something else, but one has to be careful — this is still confidential,” said Laporta.

Barça players are aware of the new directions in which the club operates; their contracts include clauses related to NFTs and the metaverse, the president added.

In November 2021, Barcelona announced the release of collectible digital assets in partnership with the marketplace Ownix. However the club terminated the agreement due to the platform’s collaboration with crypto-entrepreneur Moshe Hogeg, arrested on suspicion of fraud and other crimes.

In 2020, Barcelona, following Paris Saint-Germain, Juventus, West Ham United and Atlético Madrid, decided to issue fan tokens.

The sale of Barça Fan Tokens (BAR) took place in June of the same year on the Socios by Chiliz platform. Not all fans were satisfied with the token sale.