FC Barcelona’s BAR ICO Completed in Two Hours, Raising $1.3 Million

The flash sale of FC Barcelona’s BAR token, which looks like a flashy wording for an Initial Coin Offering, carried out on the platforms Chilliz and Socios, sold 600,000 tokens priced at 2EUR each in less than two hours.

Barça Supporters Now Own 600 000 “Barça Fan Tokens”

One of the biggest football clubs in the world, FC Barcelona, has sold its first tokens in a very short time. In a Monday flash sale, supported by token platforms Chiliz.net and Socios.com, 600 000 Barça Fan Tokens at a set price of 2 euros each found their owners.

In a recent tweet, Chiliz and Socios CEO Alexandre Dreyfus announced that the most intensive period of the sale sold $777,000 of tokens in less than two minutes. Despite the temporary sale delays on the Socios platform, Dreyfus specified that it all went down unexpectedly quickly. He added that buyers were from 106 countries, while the sports-focused blockchain platforms experienced 5x higher demand than their average.

Participation in Team-Related Decisions

Barça fan tokens are intended to create broader interaction with the club’s supporters. In a recent publication on FC Barcelona’s official website, the team announced that token holders would have the chance to participate in different surveys, where they will vote and make decisions on a variety of club-related topics. The first one will be choosing the design for a new mural, which is to decorate the team’s legendary locker room.

“Fans can then immediately use their $BAR to vote in the first club poll on Socios.com, to choose an inspirational piece of fan-designed artwork to go inside the sacred dressing room at the Camp Nou”, said Chiliz and Socio CEO Alexandre Dreyfus.

The Next Big BAR Sale

After the Monday flash sale success, Barca fans will get another chance to purchase their BAR on Wednesday, 24 June, at 1.00 PM CEST. This time their price will vary, depending on the demand at any given time.

FC Barcelona is undoubtedly not the only sports club with its tokens. Last year Socios collaborated with Italian football grand Juventus for the release of their fan token. The same thing happened in 2018 when the French football team Paris Saint-Germain also launched theirs.

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The post FC Barcelona’s BAR ICO Completed in Two Hours, Raising $1.3 Million appeared first on CryptoPotato.

Publication date: 
06/23/2020 - 12:34
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