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FC Barcelona terminates partnership with Ownix

Reports emerged last week that Israeli crypto mogul Moshe Hogeg and other individuals had been arrested on fraud and assault charges.

The La Liga giants, FC Barcelona has announced the closure of their partnership with the non-fungible token (NFT) marketplace, Ownix, as several individuals of the company were arrested due to fraud and assault charges. This decision came just weeks after Barcelona announced its new partnership with Ownix, while both were set to hold an NFT auction on November 24.

Reports emerged last week that Israeli crypto mogul Moshe Hogeg and other individuals had been arrested on fraud and assault charges. While the report elaborated by writing that Hogeg’s offences include conspiracy to commit a crime and falsifying corporate documentation, apart from that he had several offences related to sexual assault.

Following this reason, the Spanish giants decided to terminate their recent contract with the NFT platform.

A statement released by Barcelona stated, “In light of information received today that goes against the club’s values, FC Barcelona hereby communicate the cancellation of the contract to create and market NFT digital assets with Ownix with immediate effect.

If there was no such problem, then the Catalan fans would have got the opportunity to acquire and own digital assets featuring some of Barcelona’s most famous moments on the pitch, which would have included several photos and videos. But now with all these issues, Barcelona will need to find another NFT platform partner in the coming months.

While Barcelona has now become the second club in recent days to terminate a partnership contract. The Premier League giants Manchester City has also announced the suspension of their arrangements with the cryptocurrency firm, 3Key Technologies.

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