Source: CoinTribune Original Title: Barcelona Faces Backlash Over Partnership With Little-Known Crypto Firm Original Link: https://www.cointribune.com/en/barcelona-faces-backlash-over-partnership-with-little-known-crypto-firm/

Barcelona Faces Backlash Over Partnership With Little-Known Crypto Firm

Top Spanish football club Barcelona has drawn criticism after entering a sponsorship deal with the relatively unknown cryptocurrency company Zero-Knowledge Proof (ZKP). The partnership has raised concern among fans, who fear the club may be prioritizing revenue over caution. Many worry that the arrangement could prompt supporters to engage with high-risk digital tokens without fully understanding the potential dangers.

In Brief

• Barcelona faced criticism after announcing a partnership with a relatively unknown cryptocurrency company, raising concerns among supporters about potential risks.
• The announcement stood out as the company’s first post on X, with very few followers and a limited online presence.
• Barcelona clarified that it has no involvement with the company’s token and that the token launch was not part of the agreement.

Scrutiny Grows Over Barcelona’s New Crypto Partner

In mid-November, Barcelona announced that ZKP would become the club’s Official Cryptographic Protocol Partner until 2028. The company said its role would be to protect supporter information using cryptographic verification, ensuring that all data is handled securely and through rigorously verifiable processes.

Despite these claims, attention quickly turned to ZKP’s limited public presence. The Barcelona announcement was the company’s first post on X, with only a handful of followers, and the account followed just FC Barcelona, Bitcoin, and Andrew Tate. ZKP describes itself as a blockchain firm focused on privacy and decentralized AI, yet its minimal online footprint raised questions about the organization’s credibility.

The company’s name comes from a cryptographic method that allows proof of asset ownership without revealing personal information. ZKP seems to apply the same privacy principles to its own operations, and its claim of raising $100 million has yet to be publicly verified. The firm says its team includes engineers, cryptography specialists, and former founders, and it emphasizes that its work is not intended as a public-relations stunt.

Everyone asks, “Who’s behind this?” As if knowing the names would make the code stronger. It won’t. We’re real — engineers, cryptographers, ex-founders, system killers. But we’re not playing the PR game. You’ll meet us through what we built, not through bios. Hidden in the system is a riddle. Solve it, and you’ll see through the veil. That’s your proof of work.

Experts and Former Executives Question the Deal

This lack of transparency has sparked concern within the football community. Martin Calladine, an author known for examining crypto-related issues in the sport, said the arrangement is troubling and drew parallels with earlier questionable crypto partnerships signed by football clubs.

Likewise, Xavier Vilajoana, a former player and former Barcelona executive who recently announced his intention to run for the club’s presidency, described the situation as highly concerning. He questioned why the current leadership would associate the club with a company displaying so many warning signs.

Barcelona Clarifies Its Role Amid ZKP Controversy

Amid rising criticism, Barcelona issued a statement to clarify the scope of the deal, highlighting the following points:

• The club confirmed it has no connection to the company’s token and does not participate in its creation, management, or use
• It emphasized that the token’s launch was not included in the sponsorship agreement with ZKP

The Spanish giant reiterates its commitment to transparency and to respecting its institutional agreements, and will announce any relevant updates as soon as conclusive information is available.

This controversy comes as Barcelona continues to work through long-standing financial strain. The club is still feeling the effects of an unsuccessful transfer period between 2017 and 2019, which placed heavy pressure on its accounts. Even so, Barcelona has pursued digital-asset initiatives in recent years. It sold its first NFT for $693,000 at Sotheby’s in July 2022, and its FC Barcelona Fan Tokens—released with a certain NFT platform in June 2020—generated $1.3 million within two hours.