FC Barcelona Terminates Two Weeks Old Contract With NFT Marketplace Ownix

The non-fungible token (NFT) market has actually blown up in current months. It has actually seen adoption in various sectors, consisting of music, food, and sports.

Earlier this month, FC Barcelona revealed a collaboration with premium NFT market Ownix to make the Club’s NFTs. This collaboration was, nevertheless, temporary as FC Barcelona on Thursday canceled the offer. The termination came simply a couple of days prior to the Club’s very first NFT collection auction was arranged on the platform.

FC Barcelona Cancels Ownix Deal

The La Liga club ended its relationship with Ownix following the arrest of Israeli crypto magnate Moshe Hogeg, the owner of the football club Beitar Jerusalem.

The cops apprehended Hogeg, who supposedly has ties to Ownix, on suspicion of participation in a supposed huge scams connected to cryptocurrencies. They apprehended him in addition to 7 other individuals. Hogeg’s legal counsel, nevertheless, supposedly rejected the claims.

Related Reading | Sports NFTs Are Hot Property: How Blockchain Technology Gives Fans New Ways To Connect With Their Favourite Sport

FC Barcelona consequently revealed that it was ending its handle Ownix, mentioning factors versus the Club’s worths. “In light of information received today that goes against the Club’s values, FC Barcelona hereby communicates the cancellation of the contract to create and market NFT digital assets with Ownix with immediate effect,” the Club specified.

In reaction to this statement by FC Barcelona, Ownix tweeted that it had actually ended its handle Hogeg to offer assessment services. And that Hogeg himself asked for the termination. The business likewise rejected having any connection to Hogeg’s arrest. And it even more discussed that Hogeg did not own any shares in the business.

The handle Ownix was to permit fans to purchase digital certificates of credibility for virtual products connected to the Club’s history. It likewise offered a brand-new method for the Club to reach its fans from around the world.
The NFTs are based upon pictures and videos from the Club’s 122-year history.

NFT In Sports

Global interest in non-fungible tokens has actually never ever been greater, even as google look for NFT reached brand-new highs this previous week. Sports groups throughout the world are likewise purchasing into the buzz checking out NFTs. For them, it is a method of creating earnings and raising fan engagement.

Related Reading | Baseball Legend Willie Mays Drops First NFT To Celebrate 90th Birthday

NFTs in sports are utilized to commemorate the life of icons like Baseball legend Willie Mays. About a month back, the Costacos Collection launched a collection in event of the icon’s 90th Birthday.

NFTs likewise maintain valuable minutes like Zlatan Ibrahimovic’s objective event. A couple of weeks back, Ibrahimovic ended up being the very first gamer to have an objective event became an NFT minted live throughout a sports occasion.

In August, soccer legend Lionel Messi likewise introduced his collection of NFTs.

Featured image by FC Barcelona

Michael Evans

Professional writer, editor, and producer with over a decade of experience. I'm an experienced editor who has written for a variety of publications, and I specialize in editing non-fiction articles, news, and business blogs.

Related Articles

Back to top button