Spain’s FC Barcelona has announced a partnership with blockchain startup Chiliz to launch a token for its fans later this year.
The Lionel Messi-led football club, which boasts more than 300 million fans, is planning to launch a token in Q2 2020 that will give voting power to its supporters. FC Barcelona has partnered with the sport-focused startup Chiliz to launch the new coin, dubbed Barca Fan Token (BAR), according to a report by The Block.
Alexandre Dreyfus, founder and CEO of Chiliz, said the deal took 17 months to close and has been approved by the football club’s board.
Josep Pont, board member and head of FC Barcelona’s commercial division, said of the partnership,
This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the Club closer to our fans around the world.
The BAR token will be sold at an initial price of €2 with a max supply of 40 million. Coin holders will have the opportunity to cast votes on exclusive club decisions, which will be announced at launch.
Dreyfus said,
It is all about fan engagement and how to offer a voice, an influence to 99.9% of fans that are NOT in the stadium/arena.
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