FC Barcelona Announces a Fan Token, Metaverse, and NFT to Improve Financial Situation

02.03.2022 11:20
by Nina Petrov
1 min read

One of Spain’s most famous football clubs announced that it is developing its own cryptocurrency. The reason behind such a decision is to avoid sponsorships and improve the club’s finances in an alternative way. 

At the Mobile World Congress held in Catalonia earlier this year, Barca’s president Joan Laporta announced that the club will develop the fan token, but also its Metaverse, and NFT.

If Barca gets its token, it will join many European clubs that rely on fan tokens for funding, along with Lazio, Manchester City, Paris-Saint Germain and others.

The total market worth of fan tokens is currently $354 million and has decreased during the last twelve months. Although the reason is not clear, fan tokens usually encounter a steep drop of value soon after they are listed. One of the possible explanations is that core fans don’t get to enjoy many benefits from investing, leaving space for speculation.

Experts say that in case fans would get voting rights, rewards, or access to merch, that could significantly change the situation.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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