Barcelona has accepted an offer to become the club’s new main sponsor from a cryptocurrency company called socios.com. The media outlet goes on to say that the board’s offers were very enticing. The amount of risk and variables involved in the cryptocurrency market, on the other hand, is extremely large, putting the board in a difficult position.
About the Company
Although the transfer market in football has been devoid of headline-grabbing acquisitions so far this summer, Socios is an exception.
With a slew of large collaborations, the platform, which offers “fan tokens” that allow fans to influence decisions at their team, has gained quick traction. These collaborations have brought attention to the blockchain-based platform, which is described as a fan interaction tool for football as well as other sports and entertainment.
Socios takes its name – and its core idea – from the Spanish word for followers of star clubs like Barcelona and Real Madrid. Followers may use the app to vote on issues such as what to name a training ground or which song should be played after a goal by buying fan tokens for £2.
Receiving the Offer
The board believes that the crypto industry does not adequately represent the club’s principles and beliefs. Barcelona is said to be considering this move only if the money is too good to pass up. However, given the current state of affairs, socios.com’s chances of becoming the principal sponsor for the famed garnet and white are little to none.
Rakuten, a Japanese firm, is currently Barcelona’s principal sponsor. Rakuten has paid Barcelona 55 million Euros every year from 2017 to appear on the front of the jersey. They’ve also renewed their contract for the next season.
Barcelona is in severe need of cash, and a potential sponsor could go to extraordinary lengths to provide it. The cryptocurrency market is a brand-new, cutting-edge innovation that has exploded in popularity over the last year.