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Socios Now Owns 24.5 % Stake in Barca Studios, Invests $100M - TheNewsCrypto

source-logo  thenewscrypto.com 02 August 2022 13:50, UTC
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  • Socios.com has been investing in La Liga and Spanish football since 2019.
  • Barça Studios will be able to use Chiliz’s cutting-edge blockchain technology.

FC Barcelona’s web3 strategy will get a boost thanks to a $100 million investment from blockchain-based fan interaction and incentives platform Socios.com. Chiliz, the owner and technology supplier of Socios.com, has invested $100 million in Barca Studios. At FC Barcelona’s digital creative center, Socios will own a 24.5% stake thanks to the investment.

It is led by Barca Studios, which is in charge of FC Barcelona’s metaverse and NFT initiatives in the web 3.0 era. Chiliz has previously partnered with a number of organizations in the sports business.

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Football Fans and Supporters Benefit

The relationship allows the club to benefit from the platform’s experience in digital product development. The club may make use of Socios’ broad reach and vast access to give out unique things that supporters want.

In terms of football, FC Barcelona and Socios have a long history. After discussing the BAR fan token back in February of 2020, they have had a long-standing relationship.  As a result of the collaboration, BAR token sales have already reached over $39 million.

Socios.com has been investing in La Liga and Spanish football since the beginning of 2019. As a consequence, it currently works with six La Liga clubs to serve global audiences with fan involvement initiatives. Socios.com is the preferred provider of fan engagement and rewards for more than 160 sports teams across the globe.

Additionally, Barça Studios will be able to use Chiliz’s cutting-edge blockchain technology, which powers and supports Socios.com, as a result of this strategic investment. Barca Studios will have access to Chiliz Chain 2.0, a Layer-1 blockchain designed specifically for the sports and entertainment sector, as a result of the cooperation.

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