FC Barcelona, one of the largest football clubs in the world by revenue, has decided to cancel an agreement signed earlier this month with the non-fungible token market (NFT) Ownix. after the arrest of Israeli crypto magnate Moshe Hogeg – a consultant for the NFT marketplace. The termination of the contract came in the form of a short statement from the club via their website, just days before the club’s first NFT collection auction is scheduled on the platform. . FC Barcelona states that the termination of relations with Ownix will be effective immediately.
Police have arrested Moshe Hogeg, who is believed to have ties to Ownix, on suspicion of being involved in an alleged major cryptocurrency scam. He was arrested along with seven other people. Hogeg happens to be a co-founder of Sirin Labs – the same company that launched blockchain smartphone in 2019, and is also the owner of the Israeli football club Beitar Jerusalem.
FC Barcelona cancel declare read, “Due to the information received that goes against the values of the club, FC Barcelona announces the cancellation of the contract for creating and marketing NFT digital assets with Ownix effective immediately.”
In response to the cancellation, Ownix grant a statement that separates the company from Hogeg and outlines the ‘incidents’ that happened years ago. It stated that it had terminated its consulting agreement with Hogeg, apparently at Hogeg’s request. While sources within FC Barcelona claim that Hogeg is only an “external advisor” to Ownix, the NFT market does not indicate whether Hogeg will host ICO (initial coin offering) tokens called ONX created at the end of July or not.
FC Barcelona’s agreement with Ownix regarding the launch NFT focused on improving its financial foothold while improving connections with its global fan base. The series is set to feature digital pieces of historic moments in the club’s 122-year history, including an illustrious trophy cabinet with 95 national and international laurels, including including 26 domestic championships and five UEFA Champions League titles.
While the club and those at Ownix have not yet come up with a proper plan, the club wants to allow fans to bid on clips of highlights in online auctions triggered through Ownix’s own marketplace. Fans were then said to have bid on the club’s most iconic events of the year captured on camera to have their own footage. Ownix, meanwhile, has stated that Barcelona NFTs will be selected by a “special joint committee” and then minted, first at a one-time auction and then into a broader collection.
Football brands and clubs with large global fan bases have been exploring NFT as a way to generate income and increase fan engagement. In September, Spain’s La Liga became the first of Europe’s top football leagues serve NFT of all its players through France’s digital football collection platform Sorare. Other European clubs such as Porto, AS Roma and Liverpool have also previously announced NFT contracts.
