Spanish football club Barcelona also known as Barca, has entered into a partnership with the financial and technical platform Chiliz. Thanks to this Spanish club has launched its own token on the blockchain, which will help revolutionize the sports industry.
First and foremost, a token of the club Barca Fan Tokens (BAR) is intended for use in a mobile application Socios. Here’s how the event says CEO and founder Chiliz and Socios Alexandra Dreyfus.
We are very excited to launch the token Barca on our platform Chiliz based on the Ethereum blockchain. This is the best implementation of our long-term vision about the involvement of fans and monetization of the industry.
A few months ago Chiliz started working on Socios. During beta testing, the application managed to attract 100 thousand users. Now, as stated, Dreyfus, platform out of the testing phase.
Why you need a football cryptocurrencies
With the advancement of technology there is a need for new methods of interaction with the fans. Especially if we are talking about the football club Barcelona team, which is the fourth largest in the world in accordance with Forbes. It is inferior to the Dallas Cowboys of the National football League, New York Yankees of Major League baseball and the football club “real Madrid”. Full list of fifty commands are available on the link.
It should be noted, Barca is not the first in this case. We have previously written that the private token is a French football team Paris Saint-Germain (PSG) and Italian professional football club Juventus.
According to a press release, the tokens will be evaluated in relation to the native token of the platform Chiliz CHZ. In the framework of the model the developers will be releasing a currency pair type BAR/CHZ PSG/CHZ JUV/CHZ and so on.
Each team will be able to produce their own fan-made token with reduced emissions. For example, barça is 40 million tokens.
How to use a tokens BAR to Socios?
Earning tokens as rewards for activity on the platform Socios, fans and interested parties will be able to spend it on branded products or event tickets.
Like PSG and JUV, tokens football club Barcelona BAR a built in format ERC20-tokens on blocare based on Ethereum. In turn, the organization will act as validators in the chain.
However, users will not be able to display tokens in their own wallets or have them on a crypto currency exchange like in the case of other digital assets.
At this stage, the tokens leopards will be available only on Socios.com and Chiliz.net – our exclusive cryptomeria, which are intended for sports and leisure tokens. Over time, of course, we open them to a larger number of strategic partners. This should contribute to the formation of a separate ecosystem.
As Dreyfus told cryptooperation resource Cointelegraph, “retail trade” for Socios to start somewhere in the late first quarter or early in the second quarter of this year.
The main benefit of this project is to promote the tokens, blockchain and cryptocurrency. Obviously, after seeing the developments fans of football will be much less reason to refuse to work with bitcoin. In the end, thanks to the efforts of "Barcelona" niche cryptocurrency will certainly replenished with new fans.
With this thoughts I agree the head Binance Chanpen Zhao. According to him, tweets about the tokens in your account with 32 million followers is a great step towards worldwide adoption of the blockchain.
A 32m follower account talking about a sports token. Very nice progress towards #adoption!$CHZ, @alex_dreyfus, congrats! https://t.co/OruguTrCqd
— CZ Binance 🔶🔶🔶 (@cz_binance) February 13, 2020
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