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Barcelona launched BAR tokens for fan engagement and sees on the first day raised $1.3M for the club

FC Barcelona launched $BAR token and raising $1.3M from the club

Fan Tokens

Chiliz had pointed out in an announcement, saying supporters interacting with the club via its app will be rewarded with points that can be swapped for merchandise and club experiences. Other features are planned for the owners of BAR tokens, including chat, token trading, games, and more.

The move into the Blockchain world comes as part of Barcelona’s global expansion goal as it seeks new digital ways to build fan engagement. From now on, fans can use their $BAR to vote in the first Barca poll, to choose a piece of fan-designed artwork to go inside the legendary home dressing room at the Camp Nou.

Since June 08th, the club’s fans are anticipating for the token launch and the first poll across their social media channels. $BAR fan token holders will be able to vote in many polls and declare their opinions every season on Socios.com, earning rewards and increasing their fan status through the app.

First sale numbers were impressive

Supporters of premier football club FC Barcelona have surfaced over $1.3 million worth of tokens designed to provide fans with greater engagement in the running of the club.

The first sale went on Jun 22nd at around 11:00 UTC, more than 600,000 tokens were sold each at €2 (~$2.26) apiece. The sale finished only in two hours. Soon after the sale finished, Chiliz CEO Alexandre Dreyfus tweeted to say that more than $770,000 worth of tokens had been purchased from their platform in less than two minutes. By Wednesday, prices shot up to just under €6 (~$6.72), the company claimed, seeing a volume of just under $2.5 million traded across 24 hours. This time the prices were set on supply and demand and surprisingly, even this amount for each $BAR was welcomed by the fans!

Demand for $BAR increased more than the initial sales supply over 5x times, with over $6M USD deposited across Chiliz.net and Socios.com in the days running up to and during the flash sale. $BAR Fan Tokens were reportedly traded in 106 different countries.

Barcelona is one of the most successful and popular soccer clubs in the world with over 300 million fans globally. It is also one of the wealthiest, overtaking rival Real Madrid after it generated a record $959.3 million in revenue in the 2018-19 season.

To sum up – FCB is one of the most popular and honorable football clubs in the world. The Socios platform was available for the paying club fans to be engaged in decisions and take part in polls within the club’s decisions. This club generated tokens to engage an even larger percentage of its fanbase in decision makings, and also a great way to enter the Crypto world.

References
https://www.coindesk.com/top-soccer-club-fc-barcelona-launching…
https://cointelegraph.com/news/each-fc-barcelona-fan-token-changed…
https://www.financemagnates.com/Cryptocurrency/fc-barcelona…
https://en.wikipedia.org/wiki/FC_Barcelona#:~:text=Domestically…

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1 comment

Johnette Ziegenbein December 18, 2020 at 11:48 pm

superb article

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