Spanish Football giant wants to launch it's own cryptocurrency



The trend in the sport world now is launching of fan tokens and partnership deals with crypto exchange platforms, and the exchange platform sponsoring some activities. For example, the partnership of Manchester United and Tezos sponsoring their training kits, and Red Bull the race sports giant and Bybit, and Bybit sponsoring of STEM programmes for the club.

We’ve also seen some other English clubs launch their fan tokens like Crystal Palace, Manchester City, Arsenal, Aston Villa, Leeds and Everton etc. And not just English clubs alone, other Bundesliga Clubs too has also launch theirs. Currently, Spanish giants FC Barcelona have also disclosed that they will be developing their own cryptocurrency and metaverse and they also rejected offers to partner with other crypto companies.

The plan to lunch their own cryptocurrency and metaverse was disclosed by Joan Laporta, the current president of the club. But however there are no concrete plan on what the cryptocurrency will be used for but they are it’s going to be part of a fan token and then maybe for ticket payments, merchandise purchase, which however is still unclear.

Ownix which was the club’s digital partner and also an NFT marketplace was let loosed, that is, contract terminated due to the fact that the sole consultant of the partnership deal was arrested for crypto fraud as at November 2021. However the president of the club, Joan Laporta said that won’t stop them from launching series of their NFTs that has been in motion and soon to come out.

There are so many football clubs that has join in on the issuance of fan tokens and it has also serve as a way of generating revenues for the clubs. For example, PSG’s fan tokens has said to have the highest marketcap when it comes to fan tokens with a value of $49,582,608 and it’s price at $15.94 according to coinmarketcap as at time of writing.

These fan tokens will definitely come a long way for fans by giving them some benefits that they expect and also don’t expect benefits like membership access to merchandise, entertainments that are exclusive, sports events and also it helps the clubs itself by giving them digital presence.

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