Spanish soccer club FC Barcelona launched its new fan tokens on Monday, and sold out of its initial 600,000 $BAR tokens within two hours, for a total revenue of $1.3 million. The $BAR tokens were created through cryptocurrency firm Chiliz, and were sold at a fixed-price of $2.20.
Chliiz also owns Socios, a fan engagement app that let’s users who buy Chiliz tokens vote in polls and surveys run by sports teams. It has previously created fan tokens for soccer clubs such as Paris Saint-Germain, Juventus, AS Roma and Atlético Madrid. The company also announced a partnership with the UFC in May.
Fans who purchased $BAR tokens on Monday were given the chance to vote to decide which piece of fan-designed artwork would be hung inside the team’s dressing room at Camp Nou. $BAR owners will be able to participate in future polls and will collect loyalty points that can be used to earn prizes such as VIP tickets or the chance to meet players.
After high demand for $BAR temporarily disabled the Socios website and app on Monday, no tokens were sold yesterday. It is going back on sale today, but at a price based on demand, rather than the initial fixed offering.
