FC Barcelona stops NFT auction, cancels deal with NFT market

FC Barcelona

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TL;DR Breakdown

  • FC Barcelona cancels deal with NFT market provider, Ownix.
  • Club also cancels its first NFT collection on the NFT market platform.
  • Barcelona predicted to slip further down in rank of top teams in Spain.

Spanish football giant, FC Barcelona have canceled their deal with Ownix, an NFT market place. The club also halted plans for its scheduled first NFT collection auctioning which would have been on the Ownix platform.

FC Barcelona halted the NFT auction after Israeli crypto mogul Moshe Hogeg was arrested for cryptocurrency fraud and assault charges. Associated Press reported that Hogeg has ties with Ownix, the NFT market FC Barcelona was supposed to have its auction.

Hogeg lists the company in the Interests section of his LinkedIn profile.

“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,” the club said in a statement on its website.

FC Barcelona, Ownix initial agreement

The Spanish club announced the deal with the NFT market two weeks ago. The token was supposed to be pictures and videos from FC Barcelona 122-year history which would be celebrated on Wednesday, Nov 24.

It was supposed to feature Joan Laporta, who took over as FC Barcelona president earlier this year and other “key members” of the club.

The Spanish giant rank as the second biggest club in Spain and second to only Real Madrid. Brand Finance which made the evaluation stated that Barcelona may slip further down with the departure of striker Lionel Messi – who has his own NFT collection – for Paris St. Germain in a deal that also included NFTs.

Beyond Barcelona, Sport teams have continued to embrace the NFT frenzy as a means to raise more income and improve gan engagement. Not only football clubs but professional Basketball clubs and players, Wrestling and kickboxing stars have also adopted NFTs as a means for better fan engagement.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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