Capitalization of Barca Fan Tokens has passed $1.3 million
This week on Monday such cryptocurrency platforms as Chiliz and Socios started selling cryptocurrency tokens of the FC Barcelona called Barca Fan Tokens (BAR). Over the week, the capitalization of this token has already passed the mark of $1.3 million.
The club introduced about 600,000 tokens for sale at the fixed price of $2.25, and all of them were sold out within two hours to users from 106 countries. Only within 2 minutes of trading, tokens worth $777,000 were sold.
On the cryptocurrency trading platform Chiliz, the trading pair CHZ/BAR has become the second most popular in trading volume after BTC/USDT, reaching $2.5 million. After the beginning of trading involving BAR token, its price reached $12.05, a 420% increase from the initial value. However, this increase was not permanent and now the token is trading at $6.25.
Owners of BAR tokens get access to multiple services related to FC Barcelona. Using these tokens, fans can take part in polls and voting related to the issues concerning their favorite football club. Apart from that, users can also exchange their tokens for rewards like VIP tickets or personal meetings with club members.