Barcelona has already raised more than US $ 1.3 million with the sale of its token, whose demand was 5x higher than expected
Spanish professional football club Barcelona sold 1.2 million euros ($ 1.3 million) in fan tokens in less than two hours. 600,000 tokens were sold at a fixed price of € 2 (US $ 2.24) and are negotiable on Socios.com and ChiliZ.net.
The crypto token – called $ BAR – was sold through Socios.com through the ChiliZ blockchain. So far, the BAR was trading at $ 6.40, down from about $ 12 high yesterday. These are the ERC-20 tokens that are created using the aforementioned ChiliZ blockchain.
With around US $ 2.5 million registered in trading volume, the crypto asset has become the second most traded market on the exchange Chiliz, behind BTC / USD.
The initial sale of the token, which took place in 106 different countries, exceeded expectations by about 5x.
Token holders are eligible for team rewards based on engagement, such as meeting players and watching games as a VIP guest, by voting for specific club polls. Fans can now vote in Barça’s first poll to choose a piece of art created by fans to enter the new Nou Camp.
They even launched a rating feature to allow fans to compete and become number 1 fans in their country. In addition, in the coming months, games and chat features will also be launched on Socios.com. Alexandre Dreyfus, CEO and founder of ChiliZ & Socios.com. said:
“Football is a global game and the support extends far beyond the club’s stadium, city and country. It is a statistic that we use frequently, but for the biggest clubs in the world, 99.99% of their support is outside the stadium “.
Barcelona is not only one of the most popular football clubs, but also one of the richest in the world, with more than 300 million fans. The token, which was first released in February, was designed to promote fan engagement.
In addition to the fan token, ChiliZ has been working on a blockchain-based ‘immunity pass’ COVID-19 to watch live football matches. Earlier this year, ChiliZ partnered with Chainlink and also with the MMA giant, UFC, for sports equipment and tickets.
Source: BTC EG