La Liga Banba football team Barcelona is preparing to issue a cryptocurrency, the purpose is to strengthen the interaction with fans around the world so that fans can use Barcelona tokens ($ BAR) to participate in daily voting and win exclusive rewards. 40 million $BAR tokens will be released in the second quarter of this year, each at a price of 2 Euros. Barcelona will partner with blockchain company Chiliz to issue their tokens.
Barcelona fans have the right to vote on different team issues by purchasing the token $BAR, and each time they use the token, they will also receive a reward and improve their ranking. When fans get reward points, they can exchange exclusive products and have the opportunity to connect with Barcelona. The team’s global expansion strategy is to continue to maintain a leadership position in terms of partners and sports marketing. At the same time, by entering digital channels, you can build relationships with audiences around the world.
Josep Pont, Barcelona’s head of communications, said in a press release that this time an innovative marketing and cooperation model will be set up for the team to make the relationship between fans and the team closer. By establishing a new generation of channels, teams can set new indicators on and off the pitch. Chiliz Chief Executive Officer Alexandre Dreyfus said that Barcelona has more than 300 million fans around the world and expects their fans to begin to influence the team’s decisions. In the blockchain industry, its application cases can be strengthened.
Currently, Chiliz has established fan tokens for football teams in a number of European regions, including Paris Saint-Germain in Ligue 1, Juventus in Serie A in Italy, and West Ham in the Premier League. Users can purchase relevant tokens through Socios.com, and vote and receive rewards on the platform. Chiliz was founded in early 2018 and launched Socios.com in the fourth quarter of last year. Chiliz also has its own token, CHZ. It currently shows in CoinMarketCap that it has a market value of US $79.115 million, ranking 79th. After the news about cooperation with Barcelona came out, its price also rose by nearly 50% immediately, as of 8 PM. It was reported at $ 0.017.