Tag: fc barcelona

FC Barcelona Enters the Crypto Space with Blockchain-Propelled Fan Engagement Platform

FC Barcelona, one of the most successful and envied football clubs in the world, has partnered with Chiliz, a fintech firm, in the provision of a blockchain-powered fan-engagement platform. The tokens to be offered are anticipated in the second quarter of 2020. 

Over 300 million fans given more authority via blockchain

FC Barcelona has over 300 million fans globally, and they are expected to benefit from the tokenized engagement platform.

Through the partnership, FC Barcelona will benefit from the Barca Fan Tokens (BAR) created by Chiliz on its social mobile app known as Socios.com. Expressly, the BAR will enable supporters to take part in different polls and surveys about the daily activities regarding the club. For instance, they will be in a position to choose the kind of music to be played in the stadium whenever FC Barcelona scores against an opponent. 

Fans will be able to purchase the BAR through an innovative procedure called Fan Token Offering (FTO). Periodically, they will be in a position to collect the BAR and Chiliz digital currency ($CHZ) for free through Token Hunt, an augmented reality feature housed by Chiliz. 

The founder and CEO of Socios.com & Chiliz, Alexandre Dreyfus, noted, “We are very excited to welcome FC Barcelona to Socios.com, and even more excited to start engaging with their massive fan base around the world. With over 300 million fans worldwide, Barça’s fandom spans countries as well as cultures.”

He added, “The Club is without a doubt the most renowned and the most supported football club in the world, and we can’t wait to see their fans start to influence Club decisions. Adding FC Barcelona fans to the Socios.com global community takes us one step closer to our goal of mainstream adoption of blockchain.”

By leveraging on fans tokens, FC Barcelona seeks to propel the inclusivity of its worldwide fanbase in vital decision-making about the club. 

Chiliz embraced by various football clubs

FC Barcelona becomes the ninth major team to join Chiliz’ Socios.com. Other notable clubs that have already adopted fans tokens via this platform include Italian and French footballing powerhouses Juventus and Paris Saint-Germaine, respectively. 

Dreyfus acknowledged that since the fan tokens were floated in December 2019, nearly 110,000 users have joined and buying on average coins worth $20 USD. 

Football clubs are not being left behind the crypto bandwagon. For instance, English Premier League heavyweights Manchester City tokenized its players via Superbloke in August 2019.

Image via Shutterstock

FC Barcelona Partners With Ownix to Create NFTs

FC Barcelona will start auctioning off Non Fungible Tokens (NFTs) based on photos videos featuring iconic moments from the club’s history.

Barcelona, the world’s most valuable football club according to Forbes, wants to be a “benchmark” in this type of newly-created digital assets. It has signed a partnership agreement with Ownix. The countdown timer on the Ownix website shows the official launch to take place on Nov 24.

Ownix is a premium marketplace for NFTs based on the standards of the Ethereum blockchain, a platform for sharing data that cannot be manipulated or changed.

It appears as if the club will allow fans to bid on clips of highlights in style similar to that of NBA Top Shot.

According to creator Dapper Labs, the NBA’s Top Shot product is a blockchain-based trading card system that has generated over $230 in gross sales.

Although details about the Spanish club’s NFTs are scarce now, fans eagerly wait to see how much the auctions would fetch.

At the NBA’s Top Shot sale, a LeBron James highlight sold for $200,000.

“The agreement between FC Barcelona and Ownix is part of the Club’s global expansion strategy and a further commitment to seek out new channels and formats to connect with new generations while providing a different form of interaction with their fans around the world,” the LaLiga club said on its official website.

FC Barcelona has over 300 million fans globally. “Barça has a very large fanbase around the world and is leading the way in the digital domain with over 400 million followers in social networks. Given this scenario, the club is constantly looking for new ways to connect with its fans, and we believe that creating these NFTs is a unique opportunity to continue growing and consolidating the Barça brand,” Joan Laporta, President of FC Barcelona, said in a statement. 

NFTs are unique, unalterable digital assets stored on a digital ledger and compared to pieces of art in the physical world. These include easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items.

The decision made by the club also comes at a pivotal moment. Along with the firing of club coach Ronald Koeman, the club is also facing financial woes – with debts reported around $1.56 billion this summer.

The club’s previous leadership was accused of reckless spending on a number of players on high wages that have subsequently underperformed.

Last year in February, Barca partnered with Chiliz, a fintech firm, to provide a blockchain-powered fan-engagement platform. Last June, the club sold out its first Barça Fan Tokens (BAR) of 600,000, recording a sale of $777 in less than 2 minutes.

Football clubs such as France based Paris Saint Germain (PSG), and Italy’s Juventus has also launched a blockchain-based fan token. While Barca’s European rivals, including Atletico Madrid, Porto, AS Roma and England’s Liverpool, have already announced NFT deals.

Fan Tokens are virtual assets with a predefined value designed to enable purchases, sales, and other financial transactions. They provide corresponding values when compared to traditional fiat currencies.

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