Spanish football club, FC Barcelona’s fan tokens (BAR) sale hosted on Chiliz.net and Socios.com that was expected to last for 48 hours ends in less than two hours due to the tokens being completed sold out.
The announcement was made via a tweet from Chiliz and Socios CEO Alexandre Dreyfus on June 22.
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 token sale saw more than 4000 FC Barcelona fans from 106 countries participating. Top buyers of BAR tokens came from Turkey, Japan, Poland, Spain, France, the United Kingdom and Italy. The token sale was originally planned to last for 48 hours with 600,000 tokens being offered for sale at a price of 2 euros each. But Chiliz and Socios platforms saw a five-fold demand which saw 600,000 BAR tokens being completely sold out in less than two hours despite Socios.com experiencing some technical delays during the sale.
See Also: Tokenization of Assets on the Blockchain
According to FC Barcelona, BAR tokens are designed to increase engagement with the club’s fans. BAR token holders will be able to take part in surveys and polls associated with everyday activities of the club, as well as earn unique prizes and experiences like opportunity to meet players before a game. Trading of BAR token is expected to start on June 24 on Chiliz and Socio platforms.
Football Clubs With Cryptocurrency Tokens
FC Barcelona joins other football clubs like Italian football club Juventus and French football club Paris Saint-Germain with sport tokens developed and managed by Chiliz and Socios platforms.