FC Barcelona raised over $1.3 million from its BAR token ICO within two hours.
The Spanish football club, FC Barcelona, conducted an Initial Coin Offering (ICO) on Monday, June 22, for its proprietary fan token, $BAR. The ICO was conducted with the help of Chiliz.net, the world’s first crypto sports exchange, and Socios.com, the official fan token partner of Barça and nine other major football clubs.
The football club intended for the sale to last 48 hours. However, fans and supporters scooped 600,000 fan tokens at 2 euros each, in less than 2 hours. According to a tweet by Alexandre Dreyfus, CEO of Socios and Chiliz, the peak of the ICO was when fans bought over $777,000 worth of tokens within two minutes. He also revealed that sales came from over 106 countries with demand rising to 5x more than usual on both exchange platforms.
According to a news report by FC Barcelona, the fan tokens will allow supporters “to take part in surveys and polls connected to the everyday activities of the Club, as well as earn unique prizes and experiences related to the Club.”
Although prices may change, there will be another opportunity for fans and crypto enthusiasts to get the BAR token on Wednesday, 24 June, at 1.00 PM CEST.
Offering fan tokens is one of Barça’s ways of connecting more with its fans.
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