FC Barcelona secures €120 million for Web3 development

The Spanish football club FC Barcelona received €120 million (~$132 million) in investments from Liberto Football Finance AG and Nipa Captial BV for the development of Web3-initiatives.

The funding is directed to Barca Vision, the division tasked with expanding the organisation into the crypto industry, including the non-fungible tokens sector.

The funds were secured against collateral, for which the company sold 29.5% of its stake in the holding company Birdgeburd Invest.

“In recent years we have achieved significant progress in the digital ecosystem, turning our assets into a creative hub that elevates the FC Barcelona brand to a unique global level,” said club president Joan Laporta.

Representatives said they will continue to collaborate with platformsSocios and Orpheus.

The club also entered into a partnership with Mountain & Co. I Acquisition, focused on the European media and technology sector.

As part of the agreement, Barcelona will unite its social divisions under the Barca Media brand, which will become an important source of revenue.

In 2020, the football club decided to issue fan tokens. Its coins were also issued by Paris Saint-Germain, Juventus, West Ham United and Atlético Madrid.

In March 2022, the president of Barcelona announced plans to create its own cryptocurrency.