FC Barcelona sell out their tokens in less than two hours
On its first day of trading, the Fan Token of Spanish football team FC Barcelona (BAR) recorded a volume that nearly doubled the $1.3 million raised from the sale of cryptoactive tokens earlier this week.
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At the time of this article, FC Barcelona’s Fan Token had generated a trading volume of $2.5 million, making it the most traded currency on the Chiliz platform, behind only the BTC/USDT pair.
Just 24 hours after the launch, the value of the Fan Token increased by almost 420%, from $2.32 to $12.05. The price was halved and is currently trading at $6.25.
The BAR Fan Token sold out in less than two hours on June 22, with 600,000 tokens issued through Chiliz, the team’s partner token platform based on the Ethereum (ETH), for a fixed price of $2.25.
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Chiliz said the equivalent of $777,000 was sold in just two minutes and that demand for the token was more than five times its initial supply limit. The tokens were sold to investors in 106 different countries.
The tokens will enable fans to vote in polls concerning the football club and offer holders the possibility of receiving rewards, including VIP seating for guests at matches and opportunities to meet players. They can be used to vote for some of the fan-made artwork that the team will install in the Camp Nou stadium dressing room.
Chiliz has now launched Fan Tokens for seven different football clubs.
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In addition, Chiliz announced a partnership with the leading mixed martial arts body, UFC, to allow the purchase of tickets on the partners‘ platform in exchange for CHZ.
Chiliz also began work on a „COVID-19 immunity pass“ solution based on Blockchain technology to facilitate live attendance at football matches in April.