• FC Barcelona cancels Ownix deal after just two weeks

  • FC Barcelona have cancelled their NFT deal with Ownix after only two weeks. After signing with Sorare, the club wanted to actively participate in the NFT competition and chose Ownix as their partner. However, after some arguments and controversies, Barcelona cancelled the NFT deal.

    There could be multiple answers as to why the famous football club cancelled the deal. But most importantly, a close associate of the platform, Moshe Hogeg, was arrested by Israeli police on suspicion of cryptocurrency fraud and sexual abuse charges.

    The Ownix controversy

    Hogeg is a popular figure in the cryptocurrency world and also owns the Beta Jerusalem football club. FC Barcelona cancelled the NFT deal despite Ownix’s claims that he no longer has any ties to the company.

    Ownix also claims that Hogeg does not own any shares in the company, however in the cryptocurrency world that means very little. Since vested interests depend on possession of tokens, shares or traditional company ownership don’t matter in this case. And there’s no word on how many tokens Hogeg owns.

    Another debate that has formed around Ownix is their reputation. They don’t. The rationale for a major football club like Barcelona to partner with such a platform with little to no footprint remains a mystery.

    However, since FC Barcelona has already cancelled the deal, it will be interesting to see what their next move is on that front. The club is hoping to sell photos and videos of their glorious 122-year history through NFTs.

    Expect news of a partnership with a more well-known platform to emerge soon. Prior to Barcelona, famed Italian club Juventus announced their NFT release back in June.

    What's your reaction?