FC Barcelona raises €120 million for Web3 initiatives

FC Barcelona has raised €120 million in investment for its Web3 and blockchain initiatives

The club will unite its own social divisions under the Barca Media brand, which will become "an important source of revenue," the organization said

Spanish soccer club Barcelona has received €120 million (about $132 million) in investment from Liberto Football Finance AG and Nipa Captial BV to develop Web3 and blockchain initiatives.

The funds have been transferred to Barca Vision, a division of Barca, which is focused on expanding the organization in the crypto industry, particularly in the non-fungible token (NFT) sector. The money was obtained against secured collateral, for which the company sold 29.5% of its stake in the holding company Birdgeburd Invest, the agreement specifies.

The soccer club will combine its own social media divisions under the Barca Media brand, which will act as "an important source of revenue," the document said.