The President of renowned Spanish Football Club Barcelona, Joan Laporta, has announced the club will launch its own cryptocurrency, non-fungible token (NFT) collection, and metaverse. The decision to manage the projects itself follows a recent controversy when it dropped a crypto deal with Ownix. We speculate that its planned crypto token could be an equity offering via a security token.
“We are developing our ‘metaverse’ and have refused to be associated with a cryptocurrency company,” said Laporta. However, it already has an active deal with Socios for a fan token which we’ll come back to.
Recently the club rejected higher bids from cryptocurrency sponsors and settled for a lower offer from Spotify as a shirt and stadium sponsor. The club has reasons to want to distance itself from cryptocurrency platforms. In November, it had to cancel an NFT deal with Ownix shortly after announcing it due to crypto fraud allegations involving someone who helped arrange the deal.
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