Socios.com to Invest USD 100 Million in FC Barcelona's Digital Division

Socios.com to Invest USD 100 Million in FC Barcelona's Digital Division

Socios.com, a company dedicated to the development of fan engagement tokens for sports organizations, has revealed that it will invest USD 100 million in the digital division of the soccer team FC Barcelona, Barca Studios. The investment will give Socios.com 24.5% of the stake in the digital division of the club and will enable it to reshape the metaverse and Web3 strategies of the division to add more revenue streams.

Investment in Metaverse, NFT, and Web3

Sports clubs are now trying to add to their revenue streams by getting into the metaverse, and are drawing the attention of VC firms in the process. Socios.com, a company that designs fan engagement tools for sports clubs, announced it will invest USD 100 million in the metaverse, NFT, and Web3 divisions of the soccer club FC Barcelona, called Barca Studios.

Socios.com will receive a 24.5% stake in the company with the investment. The club has announced it will enable it to "accelerate the club’s audiovisual, blockchain, NFT, and Web3 strategy." The capital influx will enable the company to focus on developing new products that include new technologies to build new long-term revenue sources.

Barca Studios will now have access to Chilliz Chain, a new blockchain that will allow developers to issue NFTs and fan tokens, build defi products, and play2earn games reveal Socios.com.

Alexandre Dreyfus, CEO of Socios, stated:

"Barca Studios can now leverage our technology, expertise, and global scale to help roll out the club’s Web3 content strategy and deliver new long-term revenue streams that will benefit the club for seasons to come."

The price of USD BAR, the official token of FC Barcelona, rose by close to 50%, going from USD 5 to USD 7.20 following the announcement. The fan token allows holders to have a say in certain decisions via the Socios.com voting app.

Metaverse Growth Opportunities

The soccer club has been captivated by the metaverse and new technologies like NFTs this year when it announced the launch of a dedicated unit to develop products in the area. Joan Laporta, President of FC Barcelona, stated on the occasion that its digital focus was a very significant part of its growth strategy. Laporta stated,

"We want to generate new growth opportunities. 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 is a matter of survival."