Barca Fan Tokens ($BAR)

2020: Announcement of the cryptocurrency FC Barcelona

At the end of June 2020, it became known that FC Barcelona released its own cryptocurrency and earned $1.3 million on it in 2 hours.

The club management put up for sale a little more than 600,000 tokens at a fixed price of $2.25, and after two hours the entire stock of tokens was sold out, and bidding began between users. Users from 106 countries participated in the purchase of tokens.

FC Barcelona released its own cryptocurrency and earned $1.3 million on it in 2 hours

The club's cryptocurrency is called Barca Fan Tokens or $ BAR, and its sale was carried out either through the football club's own Socios platform or through the Chiliz cryptocurrency platform. It is known that after the start of trading, the BAR token rate soared by 420% - to $12.05. However, then he rolled back 50% and now every Barcelona fan token costs $6.25. Shortly after the initial sale of tokens, Chiliz CEO Alexander Dreyfus said on Twitter that tokens worth more than $770 000 were sold in less than two minutes.

The football club presented its cryptocurrency back in February 2020. Then the FC planned to release 40 million tokens, but, perhaps, the leadership decided to sell tokens in batches.

Cryptocurrency is designed to attract new fans and entertain fans of the old. BAR tokens allow holders to participate in polls and votes affecting football clubs. In addition, you can buy special rewards for tokens, for example, tickets to VIP zones for team matches and meetings with Barcelona players. The football club is already voting among cryptocurrency-holding fans about what mural to put in the club's locker room at the home stadium.

FC Barcelona has more than 300 million fans worldwide and is considered the most successful football club to earn $959 million in the 2018/2019 season. Hence, probably, the high demand for cryptocurrency of the team.^[1]

Notes