Chiliz (CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub.
See related article: South Korea’s Ifland metaverse dives into play-to-earn
- Under the partnership, Socios.com and Chiliz will become the technology partner to boost the club’s blockchain, non-fungible tokens (NFT), digital assets and Web3 strategies, Chiliz said in a blog post on Monday.
- Chiliz is the cryptocurrency of the sports and fan engagement platform Socios.com.
- The new investment builds on an existing partnership that began in February 2020 with the launch of the FC Barcelona fan token (BAR) on Socios.com.
- BAR was trading up 18% since the announcement at US$6.23 and CHZ was trading at US$0.1569, at press time, according to CoinMarketCap.
- Socios.com has partnered with six La Liga teams since 2019 to deliver blockchain and cryptocurrency-powered fan engagement to the sports industry.
- Socios.com is also developing Web3 initiatives and crypto-fueled fan engagements for other major sporting leagues including the National Basketball Association (NBA) and the National Football League (NFL).
See related article: Play-to-earn game developers pivot to engaging fans