FC Barcelona intends to create its own cryptocurrency from scratch

The Spanish football club Barcelona intends to issue its own cryptocurrency. This was stated by the president of the club Joan Laporta at the Mobile World Congress event in Barcelona, ESPN reports.

"We want to create our own cryptocurrency and we have to do it ourselves. We are different because our survival from a financial point of view depends on what we earn in the sports industry," he said.

Barcelona is organized according to the principle of a registered association, that is, it does not belong to a specific person, but is managed by 160,000 supporters who choose representatives to reflect their interests.

"We don't have large corporations or shareholders. Because of this, we have to be inventive and bold, become pioneers in many areas surrounding the sports industry," Laporta continued.

He explained that Barcelona is creating its own metaverse and therefore refused to cooperate with existing cryptocurrency companies, unlike some other football clubs. Note that Barcelona already has its own fan token BAR, which was released on the Chiliz platform and is traded on the Binance exchange.

He also confirmed that in the near future the club intends to launch a collection of non-interchangeable tokens (NFT), after announcing the relevant plans in November.

"We can inform all our fans about this, and we have about 300 million of them. I could tell you something else, but I shouldn't disclose confidential information. The players know what we are working on. Their contracts have provisions related to the NFT world and the metaverse," Laporta added.