FC Barcelona is looking to develop a metaverse and an in-house crypto coin

• The Spanish club’s president revealed this week plans to create a unique cryptocurrency
• Barca previously rejected sponsorship offers from several crypto brands, including Polkadot

La Liga football giants FC Barcelona wants to develop its standalone crypto coin, according to recent remarks from its president Joan Laporta. Sports news outlet ESPN reported this week that the club aims to raise funds via the project so as to remain afloat. The Blaugrana has struggled financially over the past few years due to the mismanagement of funds by the previous hierarchy.

“We want to create our own cryptocurrency and we have to do that ourselves. We are different because we survive financially from what we can generate through the industry of sport,” Laporta said during this year’s edition of the Mobile World Conference in Barcelona

The club also wants to develop its metaverse

Last month, the club made headlines after reportedly rejecting a number of jersey sponsorship offers from cryptocurrency entities and choosing Spotify to take over from Rakuten. Laporta clarified during the conference that the club decided to turn down the offers because it wanted to create its metaverse.

“We’re developing our own Metaverse, [this explains] we rejected the chance to be associated with any cryptocurrency enterprises.”

Should Barca pursue the same, it would become the first football club to have a cryptocurrency and a metaverse.

FC Barcelona is majorly owned and run by its fan, unlike many top European clubs that rely on financial backing from wealthy owners and corporations. This, the president noted, was the reason behind the club pursuing other avenues that can generate income.  

“We do not have big corporations or shareholders behind us. That forces us to be imaginative, innovative, brave and be a step ahead in many areas that surround the sports industry.”

NFTs on the way

Laporta did not divulge more details on how the cryptocurrency would be used or what form it would take. He, however, confirmed that the club would move on with its plans to release non-fungible tokens that were initially meant to be available on the Ownix marketplace.

“It’s something we can share with our fans around the world — around 300 million of them. I could announce something else, but I have to be prudent because it’s confidential still,” he revealed this week.

Last November, Barca called off the deal with the marketplace after the partnership advisor Moshe Hogeg was apprehended on crypto-fraud charges. The plans to launch the NFTs remained intact, though.

Worth noting the club already has a fan token (BAR) that is currently trading around $8.35 as per CoinMarketCap. The token was launched in 2020 via fan tokens creator Socios.