Fan Token Chiliz Rallies 10% as Socios Invests $100mln in Barça Studios
Chiliz, a fan token specialist, paid $100 million for 24.5 percent of FC Barcelona’s online business, Barca Studios. The legendary Spanish soccer club will be able to accelerate its audiovisual and Web3 plans thanks to the arrangement, which was revealed on Monday, per an official statement.
The developer of the fan tokens platform Socios, Maltese-born Chilizat, claims in a blog post that his $100 million investment would “strengthen the club’s potential to supply digital goods” and “create new, long-term, sustainable streams of income.” This includes Barcelona.
According to Alexandre Dreyfus, CEO OF Socios.com AND CHILIZ, “BARA STUDIOS can now leverage our technology, expertise, and global reach to deploy their web content strategy3 […] as a trusted technology partner, we will do everything in our power to support them in their efforts to create new and rewarding digital connections with their 400 million followers.”
To launch its own fan money, the $BAR, FC Barcelona and Socios reached an agreement earlier in 2020. The club has sold tokens valued at more than $39 million since its establishment.
While preparing this report, Chiliz token was trading at $0.1365, up 7.50% in the last 24 hours.