The La Liga giants, FC Barcelona, is auctioning off NFTs which will be based on some of the club’s historic moments. The developments on the deal are very limited as of now, considering the scenario, the club will allow fans to bid on clips of high points similar to NBA Top Shot.
A new Ethereum-based marketplace, Ownix, will help transactions take place, it will also offer auctions for digital jewels in a variety of sorts. The brand says that the Barcelona NFTs will be designated by a “special joint committee” and then minted, first as single one-off auctions, and then later as a wider limited edition. Ownix also has a fairly limited collection of items to purchase, including some Squid Game and Batman fan art.
The reason to sell NFTs may have been encouraged by the debt crisis Barcelona is presently in, with debts being around $1.56 billion as per reports this summer. The club’s previous management is speculated of irresponsible spending on several players on high wages that have then underperformed. The club was forced to sell some big names this summer, due to rules on how big its salary bill could be. The club was incapable to retain Lionel Messi, one of the world’s successful and prominent players. Auctioning off NFTs is a means of financial opening for a club like Barcelona that is incapable of whirling down right now.
Barcelona isn’t the only club to have participated in this cryptocurrency mire, with many chief names offering “Fan Tokens” through Socios. That company offers clubs the power to mint their own coins and use them to run assignation schemes with their fans. These tokens will also allow the fans to take part in polls organised by the club’s management, enter competitions, and so on. Socios has managed to fetch a lucrative amount through its partnerships. When the Ligue 1 giants, Paris Sant-Germain signed Lionel Messi, part of his “welcome package” was a bundle of these tokens, believed to be worth up to $34 million.