The Spanish football club Barcelona generated €1.2 million euros ($1.3 million dollars) in its Fan Token Offering a few days before launch.
One of the biggest football clubs on the planet, FC Barcelona is launching its fan token BAR today. Furthermore, the club has sold out all the first fan tokens (BAR) in less than two hours since they were listed on a sports-focused cryptocurrency exchange Chilliz.net this Monday.
The bigger part of funds for the newly listed tokens – $777 thousand – came in less than 2 minutes, said Alexandre Dreyfus the CEO of fintech and sports blockchain company Chiliz, which was responsible for the issuance of the digital fan token:
Sold out. @socios The $BAR @FCBarcelona token flash sale sold more than $1.3m in less than 2 hours, with $777k in less than 2 minutes on our crypto exchange @chiliz. Fans & crypto enthusiasts bought from 106 countries!!! There was 5x more demand ($6m++) on our platforms. pic.twitter.com/OKxmsbVAte— Alexandre Dreyfus (@alex_dreyfus) June 22, 2020
The BAR fan token came at a fixed price of €2 (about $2.26), which was only available on the Fan Token Offering (FTO). Meanwhile, the BAR token sale was the first-ever Fan Token Offering (FTO) launched on Chilliz.net exchange and was expected to continue up to 48 hours.
According to Dreyfus, fans from 106 different countries participated in the flash sale, where they acquired all the 600.000 tokens offered for FTO.
FC Barcelona is one of the biggest football clubs in the world with an estimated fanbase of 360 million. The BAR fan tokens meanwhile provide the club’s fans with an ability to participate in fan-led decision making and voting. According to FC Barcelona’s announcement:
FC Barcelona supporters will be able to acquire the first ‘Barça Fan Tokens’ ($BAR) to take part in surveys and polls connected to the everyday activities of the Club, as well as earn unique prizes and experiences related to the Club.
The first survey in which BAR holders will be able to take part includes choosing the design for the teams’ new locker-room.
BAR token officially launched today
The FTO of 600.000 tokens came to celebrate today’s launch of the BAR fan token. The digital tokens of FC Barcelona will be available for trading on the Chiliz.net platform from June 24. The total circulating supply of BAR tokens is estimated to be 1 million.
Digital BAR token is issued by Chiliz, one of FC Barcelona’s partners, and will only be available to purchase via Chiliz.net exchange or via its voting site Socios.com.
The sports and entertainment-focused exchange already claims to have numerous partnerships with world-class sports teams. Previously this year Chiliz.net launched the fan token of Italian football club Juventus (JUV). The exchange is also trading fan tokens of FC Paris Saint-Germain (PSG) and Turkish FC Galatasaray (GAL).