FC Barcelona is set to join the Blockchain wagon with the issuance of its Fan Token, the $BAR in the pipeline. The token which is expected in the 2nd quarter of 2020 will permit supporters of the Club to vote on categories of decisions about the team.
These decisions include what music to play at the stadium when FC Barcelona scores a goal. The rationale is to allow fans around the globe to be part of the Club’s decision making.
Alexandre Dreyfus, CEO at Socios.com, the platform, running the Fan Token Offering told Bloomberg in a phone interview on Friday that fans can buy coins by downloading the Socios.com app. They can then, buy Chillz, which is the native currency, then use it to purchase the Barca Fan Tokens.
Dreyfus indicated that 40 million Barca tokens are available for fans with each coin selling at two Euros. He noted that most of the proceeds would go to FC Barcelona.
Advent Of Fan Tokens
It will be recalled that in December 2019, Italian Football club Juventus in conjunction with Socios.com, Blockchain-based voting and rewards app announced the launch of the world’s maiden Fan Token Offering (FTO).
The Juventus Fan Tokens ($JUV) has a 20,000,000 limited supply, which supporters of the Club will use to vote on some decisions made by the Club and earn rewards. Interestingly, the rewards are exchanged for club merchandise and unique experiences.
The partnership between FC Barcelona and Socios makes it the ninth team to join Socios.com’s Chiliz to issue tokens. The other clubs include Paris Saint-Germaine, West Ham, AS Roma, Atletico Madrid, Galatasaray among others.
According to Dreyfus, Since the launch of fan tokens in December, 110,000 users have signed up to buy a median of $20 worth of coins.
He maintained that the teams consider it as another channel like merchandising and e-tickets.
“We are not targeting the fans that are in the stadium that they know already,” Dreyfus pointed out. “The idea is to reach 99.9% of the people who are not in the stadium.”
Both Entities Reaction
In reaction to the deal, Josep Pont, Board Member and Head of Commercial Area at FC Barcelona were quoted in a Socios.com Blog post saying they are proud to welcome Socios.com to the Barça family as a new global partner. Pont denoted:
“This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the Club closer to our fans around the world. This agreement also forms part of FC Barcelona’s goal to become associated with leading brands that can help us consolidate our new commercial and digital strategy, with the development of new streams for the generation of resources helping to make us a benchmark both on and off the field.”
Dreyfus on his part expressed elation and welcomed FC Barcelona to Socios.com, and was most importantly overwhelmed with excitement concerning engaging with the massive fan base of Barca around the world.
He likewise stated:
“With over 300 million fans worldwide, Barça’s fandom spans countries as well as cultures. The Club is, without a doubt the most renowned and the most supported football club in the world, and we can’t wait to see their fans start to influence Club decisions. Adding FC Barcelona fans to the Socios.com global community takes us one step closer to our goal of mainstream adoption of Blockchain. Every time a fan downloads the app, we are furthering education, and every time a fan buys a Fan Tokens, we are strengthening the use cases of this innovative technology.”
The global supporters of Barca should watch out for BAR tokens. It is an opportunity to be part of some decision making of one of the greatest football clubs in the world as a fan thanks to Blockchain technology.