Sports teams have always held massive influence over the masses and that feature has been utilized to the hilt over the years. As technology has improved, these teams have taken up the responsibility to bring the fans closer to them than ever.
FC Barcelona is the latest super team to bring about changes within its fanbase system with its partnership with Socios. The team with Messi as its main man will be wearing the symbol of Chilliz [CHZ] on the back of their shirts.
Barcelona claimed that the partnership will elevate the relationship that supporters have with the club. The club functions with the motto ‘Mes Que Un Club’ and claimed that fans will now be able to contribute to the club’s functioning.
The Chiliz token will purely be for fan engagement and is anticipated to be created on the market throughout the second quarter of 2020. Once fans have the tokens, they will be able to choose features such as the song to be played after a goal. FC Barcelona believes that fans across the globe will be able to participate in this event and not just those who come to Camp Nou.
Fans will be required to download the Socios application and then buy Chiliz, the company’s native cryptocurrency. According to regulations, supporters will be issued 40 million tokens at the rate of 2 euros each. Alexandre Dreyfus, the Chief Executive Officer [CEO] of Socios stated that all proceeds with the token will go to Barcelona.
The Barca token will be built on Chilliz’s Proof of Authority Ethereum-based blockchain. The organization has admitted that they themselves will act as validators for the transactions.
The Socios official added that the Barca token can also be held in cryptocurrency wallets. Dreyfus added:
“We are really proud to launch the Barca token on the Chiliz blockchain platform. This is the ultimate goal and the best confirmation of our long term vision about fan engagement and monetization.”
Chiliz token first began working on Socios several months back and had witnessed 100,000 users during its trial runs. The fans will be issued the tokens based on the potential over five years. They have also decided to price the Barca tokens on the same model as the PSG token and the Juventus token.
Chiliz will only be available on Socios. com and Chiliz.net which will be the exclusive crypto exchange for entertainment tokens. The company will also enable casual trading soon with a focus on traders.