FC Barcelona gets into cryptocurrency, partners with Chiliz to launch BAR token

FC Barcelona, the football club with superstar Lionel Messi, is collaborating with the blockchain startup Chiliz to create their own token called Barca Fan Tokens (BAR) in the second quarter of this year. These tokens will be usable on the social app Socios.

Tokenization of Sports Clubs

According to blockchain media outlet The Block's report, FC Barcelona, led by Lionel Messi, has partnered with blockchain startup Chiliz, which focuses on the sports industry, to launch the Barca Fan Token BAR. The token is set to be released in the second quarter of this year.

Alexandre Dreyfus, the founder and CEO of Chiliz, mentioned that the deal took 17 months to complete due to the approval required from the FC Barcelona board. Josep Pont, a board member and the head of commercial at FC, believes that this agreement will create innovative marketing and partnership opportunities, focusing specifically on the digital realm to bring the club closer to its global fanbase.

The initial price of the BAR token is 2 euros, approximately 2.15 US dollars, with a total supply of 40 million tokens. Fans can purchase the tokens through the Socios and Chiliz apps. Dreyfus revealed that BAR token holders will have voting rights for certain club decisions, with details to be announced at the token's launch.

Expanding Beyond Sports

Last month, Chiliz and Socios collaborated with another football superstar Cristiano Ronaldo's Juventus Football Club to issue the JUV token. Dreyfus stated that nearly $200,000 worth of JUV tokens have been sold so far.

Looking ahead, Chiliz aims to tokenize more sports clubs, including those in cricket, and plans to venture into non-sports areas such as music and entertainment. Dreyfus mentioned partnerships in the works with major telecom companies and entertainment groups, with the cryptocurrency community dubbing them as the "BNB of the sports industry," continuing their efforts towards mainstream adoption.

Source

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