Just a few months ago, Barcelona announced a partnership with Chillz. This would lead to Barcelona launching its own token. The tokens, Barça Fan Tokens, would allow fans to interact with the football club. The coins have now in the past 24 hours gone live. In the first day, the tokens have jumped by around 150%.
In the first few hours, 600,000 tokens were sold at $2.25, since these tokens have increased in value and are now going for $6.35. For the first purchase, fans had to buy through the club’s own “Socios” voting platform or through Chillz. Chillz is a token platform with a sport’s niche and exchange.
In terms of volume, data shows that Barcelona’s BAR token is around $2.5 million. While this is still low, this is set to gather momentum in the coming days. Barcelona has a fan base of more than $300 million.
With the tokens set to offer holders with voting rights and opportunities to win exclusive gifts from the football club, they are set to be on-demand.
For starters, the holders are already being offered a chance to decide on the design of a new mural for the team’s locker room.
“Fan engagement has never been more important for the sports industry, and just as football is resuming, albeit, without fans in the stadium, we are launching FC Barcelona’s Fan Token and are helping to boost their ability to connect the Club with their fans all over the world.”
Barcelona Sets Trend
The issuance of tokens by football clubs is set to be a new trend. Juventus, the biggest club in Italy, has also flirted with the idea of issuing their own cryptocurrencies.
Depending on the success of the early adopters such as Barcelona, this is set to be a new trend that both benefits the clubs and the fans.
In addition, the larger crypto community, it is a move that exposes millions to cryptocurrencies. Possibly driving some to conventional coins such as Bitcoin.
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