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FC Barcelona Partners With Chiliz And Socios to Launch BAR Token For Their Fans

14 February 2020 17:44, UTC
FC Barcelona Partners With Chiliz And Socios to Launch BAR Token For Their Fans
By Anna Martynova

Catalan FC Barcelona issues a token for its fans. Tokens will be available thanks to the partnership with Socias and Chiliz. FC Barcelona is one of the most famous clubs in the world, it has 32 million fans. The adoption of blockchain technology by the club will have a significant impact on the crypto industry.

The BAR token was developed by the blockchain company Chiliz and will be available in the Socios.com application. Its goal is to allow the club's fans to take part in voting. To get a BAR token, fans will need to purchase the Chiliz token (CHZ), which is available on many exchanges. 40 million BAR is planned to be issued in Q2 2020 at a price of €2 per token.

The partnership has already influenced the cryptocurrency market. Within a day after the FC Barcelona announced a partnership with Chiliz, the coin increased sharply by 64%, and there were significant glitches in the order books due to the rising popularity of the token. As a result, many traders suffered losses. One of the biggest losses was noticed in the CHZ/BTC trading pair since the announcement of the partnership, when traders showed interest in this particular coin.

Dozens of traders complained. Delays on the exchange lasted for several hours. In response to complaints on Twitter, Binance CEO Changpeng ZHAO assured users that their funds were safe and glitches had already been fixed.

Image courtesy of Crypto Markets News



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