Socios.com, a blockchain-powered fan engagement and incentives platform, announced that it has joined FC Barcelona as a key technology partner, accelerating FC Barcelona's web 3 strategy as blockchain, NFT, and digital assets.
Chiliz, the owner of Socios.com and a technology firm, said the company will invest $100 million in Barça Studios, acquiring a 24.5% ownership in the club's digital content development and distribution hub.
Barça Studios is in charge of the club's NFTs and metaverse initiatives, and guiding FC Barcelona's digital strategy to develop projects that engage, reward, and connect with its global following.
In addition, the team said that the new collaboration would strengthen the club's ability to provide relevant digital offerings to fans while also creating new long-term sustainable revenue streams.
According to the news, Socios.com's strong experience in blockchain technology will allow Barça Studios to create a utility that connects supporters with the club, leveraging Socios.com's size across international fan groups to reach fans and generate revenue streams in new locations.
The $BAR Fan Token will be essential in unlocking and establishing a new set of chances that go beyond the Socios.com app and into new, immersive digital worlds driven by the Chiliz technology that Socios.com and Barça Studios will develop in collaboration.
Socios.com and Barca Studios will develop initiatives that will attract the most inventive blockchain and Web3 partners to implement new features in the Barcelona FC ecosystem as part of the strategic collaboration.
The strategic investment expands on the club's existing engagement, which began in February 2020 with a deal to issue a $BAR Fan Token on Socios.com. Since then, over $39 million in $BAR Fan Tokens have been sold.
These digital assets give fans access to a thriving engage-to-earn community, where engagement allows fans to collect prizes like VIP tickets, souvenirs, and unique experiences like playing on the Camp Nou pitch.
Socios.com has been investing in La Liga and Spanish football since 2019 and now collaborates with six La Liga teams to create worldwide fan engagement projects.