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FC Barcelona Launches Fan Token On Socios.com

fantoken 062320 lt

Spanish professional football club FC Barcelona announced the availability of the '$BAR Fan Token' for sale on Socios.com, priced around 2 euros per token. The tokens can now be used by the fans to vote and decide the design for a new mural to decorate the home team locker room at the Camp Nou from a shortlist of different proposals created by fans from around the world.

In mid-February, FC Barcelona had inked a new global partnership deal with blockchain-powered fan engagement platform Socios.com to be the 'Official Fan token' partner of the club and to launch the Official Barça Fan Token ($BAR) for the club to increase engagement between the club and its over 300 million global fanbase.

To celebrate the launch of $BAR, Chiliz held a flash sale of 600,000 Fan Tokens, out of the total of 40 million tokens available to fans, at a fixed price of 2 euros each over 48 hours. However, the tokens were sold out in less than two hours, with $777,000 in $BAR sold on Chiliz.net in less than 2 minutes.

The flash sale generated a total of $1.3 million from Barça fans across 106 countries. The demand for $BAR far exceeded the initial limited supply over 5x times with over $6 million deposited.

Socios said $BAR will be available for purchase again on Wednesday June 24, but with price will be determined by supply and demand.

The Barça Fan Token or $BAR will be tradeable against the platform's native token, $CHZ. Socios expects to benefit from marketing rights including in-stadium, TV and digital exposure.

Barça Fans will be able to engage and have a say in club matters through the voting and rewards mobile app on Socios.com using the fan token. They will receive reward points which can be exchanged for exclusive merchandise, club-specific once-in-a-lifetime experiences and exclusive rights. They will have access to exclusive fan rewards, merchandise, games and leaderboards.

All polls take place in a secure environment, and all votes cast are registered on the blockchain. Thus the results are transparent and can't be altered.

FC Barcelona is the sixth club to launch the fan token and conduct a fan poll on the fan engagement & rewards app Socios.com after Italian Soccer Clubs Juventus and A.S. Roma, French soccer club Paris Saint-Germain, Spain's La Liga soccer club Atlético de Madrid and Turkey's Galatasaray Spor Kulübü.

Another two global football clubs have also already joined the Socios.com platform, but are yet to launch their respective fan tokens. They are UK's West Ham United and Argentina's Club Atlético Independiente, which became the first South American club to join the platform.

Socios.com is powered by Malta-based esports voting platform ChiliZ, which allows both esports and sports entities to tokenize their voting rights to their fan bases to crowd-manage sports and esports organizations.

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