Real Madrid and FC Barcelona are two of the most valuable sports teams in the world. El Clásico, the term used to describe every match between the two clubs, is often considered the most expensive sports event in the world due to the massive salaries that the players earn. 

So, it comes as no surprise that the two rivals have decided to join forces in establishing their own web3 trademark; acknowledging that their competitive rivalry is merely an aspect of a larger business partnership within La Liga and FIFA. 

Web3 products

According to a post made by Mike Kondoudis Esq., the web3 trademark will be used to provide branded merchandise by the two football clubs. The products include a variety of clothing and virtual/digital goods to be used in the metaverse which is becoming an exciting prospect for many different sports leagues around the world that are interested in the expanded ability to attend sporting events through VR. 

With virtual products, users will be able to suit up their metaverse avatars with a variety of fashion styles that express their loyalty to their favorite football clubs. These virtual products could also be used to decorate virtual environments the same way that many sports bars use signed jerseys to decorate their dining rooms. 

Cooperation between rivals

The fact that we’re seeing two of sports’ biggest competitors come together to make this business venture work is significant. The two clubs are some of the most identifiable sports teams in the world and have a rivalry that spans decades. 

To see them working together shows that web3 is being taken quite seriously by people with the power to make significant impacts in FIFA. While the two teams are determined to outperform the other on the pitch, it is obvious that their success relies on their rivalry. By taking that rivalry to web3, the two clubs are seeing new potential where their brand of football can find a new audience. 

Crypto in sports

Following the explosion of NFTs and cryptocurrencies in 2021, the sports world has been quick to adopt blockchain technologies. Sports memorabilia holds distinct value for fans who use the items to express their loyalty to a team; and elevating that loyalty to the blockchain is the natural next step. 

We’ve already seen web3 businesses such as Autograph and NBA Top Shot take off with partnerships that are connected to popular athletes. Many athletes have also elected to receive portions of their pay in cryptocurrency as further incentives to improve their performances. 

Adoption worldwide

Sports entertainment is one of the largest and most lucrative industries in the world. With a massive audience, governing sports bodies such as FIFA and the NBA have the capability to promote NFTs and cryptocurrency at the highest levels during the World Cup, Superbowl, and NBA Finals. 

With two of FIFA’s most popular teams making the push to web3, it will only be a matter of time until their fans begin to slowly pour in. Fandom around football is some of the most intense in the world and this new line of products and services using web3 will create an additional layer of loyalty for fans to express during the next El Clásico.