The FC Barcelona ($BAR) fan token generated US$1.3m in less than two hours after going on sale on fan voting and rewards app Socios.com and the Chiliz Exchange, the world’s first tokenised sports exchange.
Chiliz (Binance:$CHZ) is the leading blockchain fintech provider for sports and entertainment.
The 600,000 $BAR fan tokens were initially kicked off at a fixed price of €2 in a flash sale which ran across both Socios.com and Chiliz.net. They were sold on a first-come, first-served basis, across 106 different countries.
Demand for $BAR far exceeded the initial limited supply by over five times said Chiliz. Over $6m USD was deposited across Chiliz.net and Socios.com in the days running up to and during the flash sale.
$BAR will be available for purchase again from 13:00 CEST onwards on Wednesday June 24th, but with price determined by supply and demand.
Fan tokens are digital assets which offer increased fan engagement on voting and rewards app Socios.com. Fans can use their tokens to vote in club-specific polls and to be in with the chance of winning digital and real-life rewards, such as appearing via video link on the LED boards at the stadium during a match, watching games as a VIP guest in club hospitality and meeting players.
Alexandre Dreyfus, CEO and founder of Chiliz & Socios.com said: “The response has been very positive and we’re looking forward to welcoming Barca’s passionate global support back when $BAR Fan Tokens go on sale again from Wednesday 1pm CEST.
“Socios.com has been live for just over six months, but now fans are grasping the benefits of owning Fan Tokens and how we are able to deliver unprecedented opportunities for engagement with their clubs and unforgettable experiences.
“Football is a global game and support extends way beyond the stadium, city and country of the club. It’s a stat we’ve used often, but for the biggest clubs in the world 99.99% of their support is outside the stadium. The fact $BAR Fan Tokens were bought in 106 countries is a strong testament to this.
“The response to today’s flash sale – which ended in less than two hours – sends a clear message to the sporting world about the capacity for Fan Tokens to unlock the huge potential offered by global fan engagement.”