FC Barcelona To Have Its Own Cryptocurrency Token

Spain’s soccer club FC Barcelona will to have its own token that will give voting power to fans.

The club has partnered with blockchain startup Chiliz for the initiative, and the token will be available in Q2 of this year.

The deal took 17 months to close, and the token will give voting power to its over 300 million global fans.

FC Barcelona and sports-focused blockchain startup Chiliz will launch what they are calling the Barca Fan Token (BAR) for the voting.

In an interview with The Block Josep Pont, board member and head of commercial area at FC Barcelona said, “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".

The BAR token will be initially priced at €2 (~$2.15) apiece, with a total supply of 40 million. Fans can purchase the token via Socios and Chiliz apps. The BAR token holders will be able to cast votes for certain club decisions, which will be announced when the token launches, Dreyfus told The Block. “It is all about fan engagement and how to offer a voice, an influence to 99.9% of fans that are NOT in the stadium/arena,” he said when further speaking with The Block.

This article is not intended to be financial advice. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Crypto Block does not provide investment, tax, legal, or accounting advice.

As always, do your due diligence before investing, and never invest more than you can afford to lose.

Photo Credit: Aminoapps.com

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