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Socios Will Invest $100 Million in FC Barcelona Metaverse Push

Socios Will Invest $

Socios.com, a company committed to the

 development of fan engagement tokens for sports clubs, has announced a $100 million investment in FC Barcelona's digital business, Barca Studios. 

The investment will give Socios.com a 24.5 percent stake in the club's digital division, allowing it to reshape the metaverse and Web3 strategies to include more revenue streams.

Sports clubs are currently attempting to diversify their revenue sources by entering the metaverse, which has caught the interest of VC firms. Socios.com, a company that creates fan engagement tools for sports clubs, has announced a $100 million investment in FC Barcelona's metaverse, NFT, and Web3 division, called Barca Studios.

According to the club, Socios.com will receive a 24.5 percent stake in the mentioned company as a result of the investment, which will allow it to accelerate the club's audiovisual, blockchain, NFT, and Web3 strategy. This capital infusion will enable the company to focus on developing new products that incorporate these new technologies in order to create new long-term revenue streams.

According to Socios.com, Barca Studios now has access to its Chilliz Chain, a new blockchain that enables creators to create defi products and play2earn games as well as issue NFTs and fan tokens.

Socios CEO Alexandre Dreyfus stated, "Barca Studios can now take advantage of our technology, knowledge, and global reach to assist the Club in implementing its Web3 content strategy and to provide new long-term revenue streams that will benefit the team in the future."

As a result of this announcement, the price of $BAR, FC Barcelona's official token, increased by nearly 70%, rising from $5 to $8.9. But after the peak, it is currently trading at $5.8, decreased by 0.8% in the last 24hrs.

Since earlier this year, when it announced the creation of a dedicated unit to develop products in the area, the soccer club has been captivated by the metaverse and cutting-edge technologies such as NFTs. At the time, FC Barcelona president Joan Laporta stated that the club's digital focus was an important part of its growth strategy.

Laporta stated that we want to create fresh opportunities for growth. Our objective is to win championships and please our supporters, but we also need to take advantage of business opportunities in the sports sector. It is a matter of survival.

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