FC Barcelona Cancels Marketing Agreement With NFT Marketplace Ownix

FC Barcelona cancelled a advertising and marketing cope with non-fungible token (NFT) market Ownix on Thursday. The choice comes lower than 5 days earlier than the soccer powerhouse is scheduled to public sale its first NFT assortment by way of the platform.

The Associated Press and different publications reported that the cancellation adopted the arrest earlier Thursday of Israeli crypto mogul Moshe Hogeg on fraud involving cryptocurrencies and assault costs. The publications additionally reported that Hogeg has ties to Ownix, which operates on the Ethereum blockchain. Hogeg lists the corporate within the Interests part of his LinkedIn profile.

“In gentle of knowledge acquired right this moment that goes in opposition to the Club’s values, FC Barcelona hereby talk the cancellation of the contract to create and market NFT digital belongings with Ownix with rapid impact,” the membership stated in a press release on its web site.

At the time of publication, the membership had not responded to CoinDesk requests for remark.

Announced simply 15 days in the past, the FC Barcelona NFT public sale based mostly on pictures and movies from the membership’s 122-year historical past is slated to happen on Nov. 24, in response to a countdown timer on the Ownix web site. The launch will characteristic remarks from Joan Laporta, who took over as FC Barcelona president earlier this yr and different “key members” of the membership, an electronic mail from an FC Barcelona consultant to CoinDesk stated.

Barça, because the group is thought, is second in worth solely to Spanish rival Real Madrid, in response to a ranking by Brand Finance, which stated the group may drop down the ladder due to the departure of star striker Lionel Messi – who has his personal NFT assortment – for Paris St. Germain in a deal that additionally included NFTs.

Sports groups worldwide have been exploring NFTs as a manner of producing earnings and elevating fan engagement. FC Barcelona has confronted extreme monetary points lately with its CEO Ferran Reverter telling reporters in October that the membership was “technically bankrupt” earlier this yr and would have been “dissolved” if it had been a public restricted firm (PLC).

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