Barcelona plans to create their own cryptocurrency

Spanish football giant FC Barcelona wants to create its own cryptocurrency, its president said. The club has turned down offers to be associated with crypto firms because it wants to develop its own cryptocurrency and metaverse, Joan Laporta explained at the Mobile World Congress in Barcelona this week. “We want to create our own cryptocurrency and we have to do it ourselves,” said Laporta.

Unlike most major football clubs, Barcelona is owned and operated by its fans. The governance of the club is built around 160,000 members rather than shareholders. It was the most valuable soccer team in the world in 2021 according to Forbes. “We have no big companies or shareholders behind us. This forces us to be imaginative, innovative, courageous and to be one step ahead in many areas surrounding the sports industry, "said Laporta. Laporta said the club will launch a range of non-fungible tokens (NFTs) in the near future, following plans initially announced last November. It is not clear at this point what the Barcelona cryptocurrency would be for, whether it is a form of fan token similar to those offered by Socios or a means of payment for tickets and merchandising. The club did not immediately respond to CoinDesk's request for further comment.

by Alessandro Crea Thursday 3 March 2022 12:00 barcelona