The FC Barcelona Fan Token (BAR) can be described as a utility token. This token gives the FC Barcelona fans an exclusive and tokenized share of influence on various club decisions. The fans use the Socios application and services to participate in different official events that influence the decisions made by the club.
BAR token holders vote through smart contracts on different ‘fan decisions’ polls that are published by the club. Notably, Barcelona is contractually bound to act based on the poll results. Holders can use the Socios platform to compete in contests and quizzes, vote on polls, and connect/chat with like-minded users.
Through these activities, the BAR token holders can earn rewards like In-app CHZ bonuses, matchday tickets, club-specific nonfungible tokens (NFTs), exclusive experiences, digital badges, and cashback offers from official online shops.
BAR Token Issuance
The Barcelona fan tokens issued by Chiliz and FC Barcelona went live on Socios.com on June 22, 2020. Their initial price was set at 2 euros and they immediately enabled the fans to take part in choosing the design for a new mural that decorated the first team locker room.
Since the launch, the fans were allowed to buy $BAR to participate in polls; and surveys that are linked to the daily activities of the Club. The tokens also enable the loyal fans to earn several unique prizes and enjoy experiences related to the club.
Different proposals are created by fans of FC Barcelona from around the world and then every token holder is called upon to vote for their best design. The BAR tokens are only available through Chiliz.net and its voting site Socios.com.
To celebrate the launch of the Barcelona fan tokens, Chiliz held a flash sale of 600,000 tokens at a set price of 2 euros. After 48 hours, the cost of these tokens changed depending on demand and supply.
Apart from giving the fans a right to vote on various topics during the season, the fans are also given opportunities to earn rewards that are linked to the club. They can get real-life activations, innovative digital experiences. Some common real-life activations include watching matches live as a VIP guest at the Camp Nou or meeting players before the game.
Fan-Inspired Design
Chiliz and FC Barcelona confirmed their partnership agreement on February 13, 2020. That move helped in forming part of the club’s new commercial and digital strategy. Through the BAR tokens, fans can interact with the club more innovatively. Hence, they can voice their opinion and vote for various matters via club surveys.
Whenever fans participate in voting, the most popular opinion or option is what is adopted by the club’s management.
Statement by Alexandre Dreyfus
The CEO and founder of Chiliz and Socios.com, Alexandre Dreyfus, commented on the BAR project:
Fan engagement has never been more important for the sports industry; and just as football is resuming, albeit without fans in the stadium, we are launching FC Barcelona’s Fan Token and are helping to boost their ability to connect the Club with their fans all over the world”.
There is incredible anticipation and excitement for Barça’s Fan Token; so fans who want to buy at a flat rate of €2 will need to move fast when the flash sale begins at 1pm on Monday”.
Fans can then immediately use their $BAR to vote in the first club poll on Socios.com; to choose an inspirational piece of fan-designed artwork to go inside the sacred dressing room at the Camp Nou”.
Since Barcelona has a huge global fanbase, the blockchain platform recorded one of its biggest and best FTO, far exceeding the volumes of most of the tokens sold by other teams.
Barcelona Fan Token Price
The live price of the BAR fan token is $14.71; with a recorded 24-hour trading volume of $4,810,510 on October 27, 2021. Today, the token has lost 5.74% and ranks at #567 on CoinMarketCap with a market cap of $54,034,668. For now, the FC Barcelona fan token has a circulating supply of 3,551,009 BAR coins; but its maximum supply is 40,000,000 coins.
This token is available for trading on top exchanges including FTX, ZT, Binance, BKEX, and Mandala Exchange.
