One of the most popular and currently dominant football clubs – FC Barcelona, has joined forces with a cryptocurrency project. The partnership seeks to create a specific token which aims to increase the engagement of Barcelona’s fanbase.
According to an official press release, FC Barcelona, the captain of which is Lionel Messi, winner of 6 prestigious FIFA Ballon d’Or awards, has teamed up with Chilliz to launch a cryptocurrency.
The initiative is part of the club’s new commercial and digital strategy. The push aims to increase fan engagement by allowing them to take part in polls and surveys on Chiliz fan voting and rewards mobile app.
The new token will reportedly be ticked as BAR. Fans of the football club will be receiving those as rewards for specific actions they take. At the same time, they will be able to exchange BAR tokens for exclusive merchandise, as well as unique experiences.
Speaking on the matter was Josep Pont, Board Member in FC Barcelona and Head of Commercial Area, who noted:
We are proud to welcome Chiliz to the Barça family as a new global partner. This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the club closer to our fans around the world.
BAR tokens will be made available through what is called a Fan Token Offering (FTO). At the initial point of sale, each token will cost 2 EUR, and a total of 40 million tokens will be up for grabs. The sale is supposed to take place in the second quarter of 2020.
To purchase BAR tokens, however, fans would have first to buy CHZ, which is the digital currency for Socios – the mobile app of Chiliz.
In any case, the initiative demonstrates another exciting use of cryptocurrencies. By leveraging digital assets to reward fans, football clubs can not only increase their engagement but also get proper feedback from them on various matters.