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Barcelona branching into cryptos

Barcelona looking to create own cryptos and launch NFTs

March 1, 2022 By Michelle Bonsu
The Blaugrana are looking to take advantage of the new frontier that is the metaverse and get involved in the intriguing and developing world of cryptocurrencies and NFTs.

Over the past few years, cryptocurrencies have really taken off, with NFTs (non-fungible tokens) becoming a buzzword on the lips of people all over the world.

Whether one really gets these financial concepts or is totally enthused about the rise of the metaverse is not the point, but what is interesting is how many of Europe's biggest clubs have decided to get involved in this rapidly developing new idea. In addition, several players are actually being paid in digital currencies - a clear sign of how this once abstract concept has now become very much mainstream.

Recently, Barcelona's execs confirmed that the Blaugrana will not only be developing their own cryptocurrency but also launch their own range of NFTs. 

It's an interesting development especially given Barcelona's massive debts. At the time of Joan Laporta's return, the Blaugrana had run up a bill of over $1.1 billion (€1 billion), which meant they had to part ways with quite a few first-team players in a bid to balance the books.

Laporta believes that getting involved in cryptos could help revive Barcelona's fortunes, noting that "[This] is something we can share with our fans around the world -- around 300 million of them. We want to generate new opportunities for growth [via potentially monetizing our fan base]. Our goal is to win titles and to make our fans happy, but we also have to profit from opportunities in the sports industry."

It'll be interesting to see how this develops and whether other big teams will decide to follow in Barcelona's stead in the not too distant future.



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