Spain’s Soccer Club FC Barcelona Partners with Chiliz to Create Token

Spain’s Soccer Club FC Barcelona Partners with Chiliz to Create Token

Spain’s soccer club FC Barcelona (also known as Barca) has joined hands with fintech company Chiliz to create a crypto token.

Accordingly, fans can use the new token dubbed as Barça Fan Tokens ($BAR) in voting for polls and surveys through Chiliz’ app on mobile.

Alexandre Dreyfus, CEO of Chiliz and Socios, said:

“We are really proud to launch the Barca token on the Chiliz blockchain platform. This is the ultimate goal and the best confirmation of our long term vision about fan engagement and monetization.”

Barça has one of the world’s largest fan bases, and is considered the richest profit soccer club.

In addition, the club is partly managed by some supporters called ‘socios’ who vote in president and board elections. Moreover, Barca has won 74 trophies in Spain.

“The club is without a doubt the most renowned and the most supported football club in the world. Therefore, we can’t wait to see their fans start to influence club decisions,” he added.

In a related context, Italian soccer team Juventus and France’s Paris Saint-Germain have their own tokens.

Thus, such assets will be priced against Chiliz’ native token.

Dreyfus said:

“Our model is to issue BAR/CHZ, PSG/CHZ, JUV/CHZ, etc. on our platforms… Each team issues their own fan token, with a limited amount of supply based on the potential over five years. Barca has 40 million tokens for example.”

Cryptolydian earlier reported that Italy-based AS Roma has entered into a partnership with Sorare, to enhance fan engagement using blockchain.

Through this partnership, the football club is expanding its presence in the blockchain market to allow fans to purchase, sell and trade digital cards with players’ value based on their real-time performance.

AS Roma cards will be available to retail customers soon. Ubisoft has already included Sorare in its Entrepreneur Lab acceleration program in 2019.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.