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FC Barcelona Fan Tokens Worth $1.3 Million Sold Out in Two Hours

The big football clubs are promoting blockchain integration with the development of blockchain-based fan tokens.

Following the emergence of fan tokens, FC Barcelona has sold out its first Barça Fan Tokens (BAR) of 600,000 recording a sale of $777 in less than 2 minutes. This milestone was announced in a tweet by Alexandre Dreyfus, CEO of Socios and Chiliz.

The approved websites in charge of the token sales saw an unusual surge in demand for them. Tokens which were bought by fans from more than 106 countries mark another milestone for the club, and Dreyfus’ establishments.

The Need for Club Fan Tokens

Barça Fan Tokens are a virtual asset with a predefined value and are designed to enable purchases, sales, and other financial transactions. They provide related values when compared to traditional fiat currencies. As tokens are already being used for an extraordinary range of purposes, a growing number of specialized blockchains have been developed with native intent to support them, the most popular of which are Ethereum and their ERC standard tokens.

The evolution of Barça Fan Tokens will help show true membership all over the world. Since the world has become a global village with the emergence of the digital age, fan tokens will promote more direct participation in the club’s affairs by fans all over the world. The first set of direct involvement the Barça Fan Tokens will go into creating a perfect mural design for FC Barcelona’s locker room.

Surge in Football Club Fan Tokens

Barcelona is trailing France based Paris Saint Germain (PSG) and Italy’s Juventus in launching a blockchain-based fan token. With increasing interest in these tokens, a new niche of blockchain customers will be founded, and this will lead to a massive adoption of blockchain technology.

Venture Capital Company Benchmark to Pump $50 Million into Ethereum-Based Fantasy Football Platform Sorare

Benchmark, a venture capital company that earlier backed Ebay Inc., Twitter Inc., and Uber Technologies, plans to invest a whopping $50 million into Ethereum-powered fantasy football platform Sorare.

Sorare’s sales skyrocket by 130 times

Sorare is a fantasy soccer video game founded on the Ethereum blockchain that enables users to build their preferred teams and trade football player cards.

These cards are limited and can be transferred as unique non-fungible tokens (NFTs). Moreover, the cards earn points on the foundation of every player’s respective real-world weekly performance.

One of Sorare’s primary goals is to boost blockchain and digital asset adoption in daily life. This has been paid off because its sales have increased exponentially by 130 times from $50,000 in January 2020 to nearly $6.5 million this month.

Benchmark, together with other investors like Reddit and Accel, intends to invest a total of $60 million into the platform as its popularity continues to grow.

Sorare hosts at least 4 billion football fans

Sorare is proving to be a force to be reckoned with in the NFT and fantasy football space because it is used by at least 4 billion football enthusiasts globally.

Nicolas Julia, Sorare CEO, noted:

“Human beings have been collecting for centuries; it’s something we do. This is a product that could bring the crypto asset class to millions of people.”

Furthermore, the platform hosts top-ranked soccer clubs like Juventus. In November last year, reigning UEFA Champions League Winners FC Bayern Munich joined Sorare, giving its fans the chance to trade digital cards based on its top players like Robert Lewandowski, Thomas Muller, and Manuel Neuer.

As more investments continue trickling into the Ethereum-based fantasy football platform, there is an enormous market to tap. NFTs are unique tokens compared to cryptocurrencies like Bitcoin because they are created in small batches to represent a digitally scarce item like football player cards.

Lionel Messi Becomes Sorare’s Brand Ambassador and Investor

Lionel Messi, a football star who has bagged seven Ballon d’Or Awards, has joined hands with Sorare to be its brand ambassador and investor.

Sorare is an Ethereum-based fantasy soccer game platform that leverages non-fungible tokens (NFTs). Therefore, Messi will be instrumental in how fans connect with players and clubs.

Nicolas Julia, the co-founder and CEO of Sorare, pointed out:

“We believe Messi will help us set new standards in how we do this, and we look forward to sharing what new content and fan experiences we’ve been collaborating on soon.”

He added that the partnership was a “huge milestone” for the platform.

Messi, who currently plays for the French club Paris Saint-Germain (PSG), said:

“Fans have always looked for ways to express their passion and get closer to the players and teams that they love and Sorare’s combination of a fantasy game with digital collectibles gives fans new ways to do that, wherever they are in the world.”

Sorare users usually have the chance to create their preferred teams and trade NFT-based football player cards.

Comprising at least 2 million users spread across 185 countries, Sorare was previously valued at $4.3 billion. The Paris-based startup has also partnered with more than 300 sports teams and major leagues, such as Germany’s Bundesliga and Spain’s La Liga.

Sorare has expanded its scope beyond football to include other sports like baseball and basketball.

For instance, the National Basketball Association (NBA) recently inked a deal with the platform to enhance the fan experience and render more interaction, Blockchain.News reported.

The NBA acknowledged that the fantasy basketball game would allow fans to develop a lineup of NFT-powered digital collectables based on their favourite teams and players.

Sorare seeks to boost digital assets and blockchain adoption in daily life by creating unique digital tokens on its fantasy platform.

“There has been a lot of hype around different football projects using non-fungible technology up to now, but the ones that stick around will be those that offer real underlying utility and see non-fungible technology as the means to achieving their goals, not the ends,” Julia stated.