WhiteBIT crypto exchange’s financial contribution to Barcelona FC sees prominent club’s player off to his stardom
Web3-landscape has shared strong boundaries with the world of sports for quite a time. While this had been limited to sponsorships and catchy marketing cases, WhiteBIT has put an all-new meaning to sports and Web3 collaboration. How one of the largest European exchanges can save the success of Barcelona FC and the career of a football’s rising star – below.
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Since August 9, FC Barcelona has been facing hurdles in signing up its prominent newcomer Dani Olmo, who transferred to the Spanish club from German RB Leipzig. La Liga – the top men’s professional football league in Spain – did not pass approval for the addition due to Barcelona’s debt.
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Libero investment fund was obliged to pay off €40 million ($43.8 million) for purchasing a share of Barça Vision – FC Barcelona’s Web3-built fan engagement platform. The deadline for payment has already passed with no funds transferred. This put at risk the team expansion, as the Barça Vision deal envisaged using the funds to bolster its sporting ambitions by signing new players.
Half of the debt was covered by American catering company Aramark, while FC Barcelona has been actively seeking vital funding to cover another half.
As reported by Mundo Deportivo, another €20 million of debt will be covered by WhiteBIT – one of the largest European crypto exchanges. Its founder – Volodymyr Nosov – is also an owner of the Ukrainian-based Metalist 1925 football club.
The deal closure will finally allow Dani Olmo to debut for Barcelona FC and play his first match against Rayo Vallecano on August 27. WhiteBIT has been an exclusive cryptocurrency partner of FC Barcelona since December 2022.
FC Barcelona and WhiteBIT cooperation proves that cryptocurrency is strengthening its position as a global industry with significant influence. But what matters the most is the groups of people behind this, who converge their actions for the same goals. In this case – supporting national sport and its contributors.
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Paul Osadchuk
Paul Osadchuk is a digital journalist specializing in cryptocurrency and Web3 topics. He writes for GNCrypto, Cryptoslate, and Foresight News EN, and maintains analytical blogs on TradingView, Binance Square, and CoinMarketCap. With over five years of experience in marketing and PR for crypto and Web3 companies, he has gained deep industry insight and expertise in crypto trading.