- An altcoin popular in the crypto community has surged as much as 25 percent today after its platform announced that it has invested US$100 million in FC Barcelona.
Socios.com, a blockchain-based fan engagement and rewards platform, is FC Barcelona’s Web3 to strengthen its strategy 100 million dollarsand that this new investment, Socios.comIt was announced that it builds on an existing partnership that started in February 2020 with the launch of the FC Barcelona supporter token (BAR).
In addition, the $100 million investment in Barca Studios is the owner and technology provider of Socios.com. Chiliz (CHZ) reportedly provided by As a result of this investment, Socios will acquire a 24.5% stake in FC Barcelona’s digital production and distribution centre.
Chiliz (CHZ) The cryptocurrency rose 25 percent to as high as $0.16 on Monday evening after FC Barcelona announced a $100 million investment in Barça Studios for a 24.5 percent stake in the football club’s digital content and distribution center. At the time of writing, CHZ is trading at $0.14, up over 13 percent.
In a blog post published today, the Chiliz team announced that as part of the collaboration, Socios.com and Chiliz will become the club’s technology partners to increase their blockchain, non-fungible tokens (NFT), digital assets and Web3 strategies.
FC Barcelona will be able to benefit from Socios’ extensive network
Through the partnership, the club can leverage the platform’s expertise to bring better digital products to their fans. In addition, Socios’ widespread reach and interaction can be used by the club to deliver exactly what fans are looking for.
Actually, FC Barcelona and Socios are not strangers to each other. There is a historical collaboration going back to February 2020, when the two platforms were in talks to launch the BAR fan token. The partnership has also paved the way for the sale of over $39 million in BAR tokens.
Since 2019, Socios.com has been known for its investments in La Liga and Spanish football, and as a result, it now collaborates with six La Liga teams to provide fan engagement programs to a worldwide audience. Working with more than 160 sports teams around the world, Socios.com is known as their first partner for fan engagement and incentives.
As a result of this strategic investment, Barça Studios will also gain access to cutting-edge blockchain technology from Chiliz, which powers and supports Socios.com, the world’s leading blockchain provider for the sports and entertainment industries. –
Alexandre Dreyfus, CEO of Socios.com and Chiliz, said in a statement regarding the investment:
“Barça Studios will now be able to leverage our technology, expertise and global scale to help implement the club’s Web3 content strategy and deliver new long-term revenue streams that will benefit the club for seasons to come.”
The collaboration will also help Barça Studios access Chiliz Chain 2.0, a curated Layer-1 blockchain specifically for the sports and entertainment industry.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.