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ELECTRIC AND CONCEPT CARS

Launching a token for its fans, FC Barcelona partners with blockchain startup Chiliz

Launching a token for its fans, FC Barcelona partners with blockchain startup Chiliz
The Siliconreview
18 Febuary, 2020

One of the most renowned football clubs, FC Barcelona had launched a new ‘Barca Fan Tokens’ initiative to give fans an innovative way to interact with the club and its activities. The initiative had been launched through an agreement with a Maltese startup Chiliz, which is primarily involved with engaging fans in sports and entertainment based on blockchain technology.

Chiliz, founded in 2012, runs the world’s first scalable, tokenized voting platform Socios.com. It provides a platform where fans can not only execute their voting rights but could also buy and trade voting rights in their favorite sports teams. Chiliz ($CHZ) can now be bought directly without the need for a third-party exchange, thanks to the licenses that Chiliz had obtained from socios.com at the beginning of 2020. Fiat and cryptocurrency exchange services will now be offered by Chiliz, on the socios.com app. Apart from activities like purchasing ‘Barca Fan Tokens’, the fans will also be rewarded for engaging with the Club along with giving out free tokens periodically. The fans can then exchange the reward points for exclusive merchandise and unique once-in-a-lifetime experiences. Starting Q2 2020, 40 million ‘Barca Fan Tokens’ will be launched, each costing EUR 2 initially. The club has an estimated 300 million fans worldwide.