FC Barcelona teams up with fintech firm Chiliz to create blockchain-based Barca Fan Tokens

Spanish soccer club giant FC Barcelona has partnered with Chiliz to create a blockchain-based token for the fans. The Barca Fan Tokens (BAR) will be used on the sports franchise's social media app called Socios.

According to the Bloomberg report, FC Barcelona, which is one of the world’s most popular football clubs, will issue tokens for use on a fan-engagement platform. The Barca Fan Tokens are expected to launch in the second quarter of the year.

 

Fans will be able to vote on a variety of decisions.

Blockchain-based tokens of the Spanish football club Barcelona will let holders vote on a variety of decisions about the team, such as what song to play in the stadium when the team scores a goal. The Barca Fan Tokens will let the supporters around the world participate in the club. Paris Saint-Germaine and Juventus are other clubs that are also using blockchain-based tokens in partnership with Chiliz. 

 

Users need to download the Socios app to buy Barca Fan Tokens.

Alexandre Dreyfus, chief executive officer of Socios.com maker Chiliz, said that fans would need to download the Socios app and then buy app’s native coins known as Chiliz, which can also be stored in crypto wallets. Fans can use those coins to buy Barca Fan Tokens. Most of the revenue from selling the coins will go to the club. Users will be offered 40 million Barca coins at euros each. Alexandre Dreyfus also noted that with the blockchain-based tokens, they aim to reach supporters of the team that are not in the stadium and are around the world. 

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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