Spanish soccer giant FC Barcelona has sold out its first FC Barcelona Fan Tokens (BAR), which were sold via sports-focused token platforms Chiliz.net and Socios.com.
The $1.3 million sale ran its course in less than two hours. At its peak it sold $777,000 of tokens in less than 2 minutes. Chiliz and Socios CEO Alexandre Dreyfus announced the news in a June 22 tweet.
Chiliz and Socios saw a five-fold increase in demand during the sale
Dreyfus noted that the token sale saw more than 4,000 fans from 106 countries participate. He told us that the top buyers came from Turkey, Poland, Japan, France, Spain, the United Kingdom, and Italy. He added that Chiliz and Socios experienced a five-fold increase in demand during the sale.
Dreyfus said the companies originally planned for the flash sale to last 48 hours. Despite experiencing some delays on Socios.com during the sale, it ran its course much more quickly than that. “I guess that's why Barça is big and also why we are pushing hard with the cryptosphere,” Dreyfus suggested.
FC Barcelona’s BAR tokens are designed to bring more interaction with Barça fans, FC Barcelona said in a statement. BAR token holders can take part in community surveys and polls, as well as earn unique prizes like the chance to meet players before a game.
BAR token trading is scheduled for Wednesday
The latest token sale comes to celebrate the official launch of the BAR token. According to FC Barcelona, the flash sale involved 600,000 tokens at a set price of 2 euros each.
Following the flash sale, the BAR token is scheduled for trading launch on Chiliz and Socios on Wednesday, June 24. The tokens will be available only for purchase and for trading against Chiliz’s native token (CHZ) at a market price depending on demand and supply.. As of press time, the FC Barcelona Fan Token is featured as an “untracked listing” on major crypto prices website CoinMarketCap.
FC Barcelona’s BAR token is just one among numerous sport tokens handled by Chiliz and Socios platforms. Italian professional soccer club Juventus released its own fan token in late 2019. Previously, French soccer club Paris Saint-Germain also partnered Socios.com to launch a token ecosystem in 2018.