Spanish professional football club FC Barcelona inked a new global partnership deal with blockchain platform Socios.com to be the "Official Fan Token" partner of the club. As part of the deal, Socios.com will launch the Official Barça Fan Token ($BAR) for the club to increase engagement between the club and its over 300 million global fanbase.
The agreement is part of Barça's new digital and commercial strategy, which will allow supporters to take part in polls and surveys about Barca's everyday activities and earn unique prizes related to the Club on Chiliz fan voting & rewards mobile app Socios.com.
FC Barcelona will be the eighth football club to join the blockchain-powered fan engagement platform after Spain's La Liga soccer club Atlético de Madrid as well as European league clubs, France's Paris Saint-Germain, Italy's Juventus and AS Roma as well as UK's West Ham United and Turkey's Galatasaray Spor Kulübü.
Earlier in January, Club Atlético Independiente became the first South American club to join the Socios.com platform to launch its own cryptocurrency-powered Fan Token.
The 40 million Barça Fan Tokens will be available for sale to its fans in the second quarter of 2020 at a cost of 2 euros at the initial point of sale. They can purchase Fan Tokens directly through their mobile phone via the Socios.com fan engagement app.
Barça Fans will be able to engage and have a say in club matters through mobile app voting and polling platforms using the fan token. They will receive reward points which can be exchanged for exclusive merchandise, club-specific once-in-a-lifetime experiences and exclusive rights. They will have access to exclusive fan rewards, merchandise, games and leaderboards.
Socios is expected to benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.
Socios.com is powered by Malta-based esports voting platform ChiliZ, which allows both esports and sports entities to tokenize their voting rights to their fan bases to crowd-manage sports and esports organizations.
The Barça Fan Token will be tradeable against the Socios.com platform's native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a Fan Token Offering or FTO.
In 2018, social trading platform eToro had signed an advertising deal with seven of UK's Premier League football clubs, for which payment will be made in Bitcoin. The deal was also renewed in 2019.
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