One of the sports that cryptocurrencies are seeing massive adoption in is undoubtedly Football, or as it is called in the United States, soccer. Football is the most popular sport on the planet and is undoubtedly a massive market ranging from tickets to collectibles. With the speed and security of blockchain technology, cryptocurrencies are finding their place in the massive football market over the last few years.
Over the years, multiple blockchain companies have come up that are working with football clubs around the world to create tokens that give fans access to a variety of services while boosting fan engagement. The most recent on the list is the Spanish soccer giant FC Barcelona.
In its latest partnership with blockchain company Chiliz, Barca has deployed ‘Barca Fan Tokens (BAR)’ that’ll be useable on the club’s social mobile application dubbed Socios.
The agreement is a part of Barca’s new digital and commercial strategy, which is aimed at helping the Club stay closer to its global fan base through $BAR tokens, which would allow supporters to take part in polls and surveys on Chiliz fan voting & rewards mobile app Socios.com.
The tokens received as rewards can be exchanged for exclusive merchandise and unique once-in-a-lifetime experiences. $BAR Fan Token holders can also access other features on Socios.com, including Chat, Fan Token trading, games and community challenges.
These assets will be priced against Chiliz’s own native token, CHZ. However, users won’t be able to transfer these assets to their own wallets and exchanges. Barça Fan Tokens will be available in Q2 2020, with 40 million tokens made available, with each $BAR costing €2 at the initial point of sale.
Josep Pont, Board Member and Head of Commercial Area of FC Barcelona, said that this partnership would help the club get closer to fans from all over the world. Furthermore, He added:
“This agreement also forms part of FC Barcelona’s goal to become associated with leading brands that can help us consolidate our new commercial and digital strategy, with the development of new streams for the generation of resources helping to make us a benchmark both on and off the field.”
Mega football clubs lead the revolution
Football club Juventus, with over 360 million fans worldwide, have been utilizing cryptocurrencies since last year after they partnered with Socios.com. The partnership enabled creating the tradable Juventus Official Fan Token that allows fans from all across the globe to get rewarded.
This move was made by many other big clubs in the game like Paris Saint Germain, West Ham, and Roma who have all engaged in a partnership with Socios.com to improve fan engagement using blockchain technology.
All the aforementioned tokens were built on Chiliz’s Proof of Authority Ethereum-based blockchain as ERC-20 tokens, with the organizations acting as chain validators.
With the advent of cryptocurrencies in the scene, more and more sports teams have started adopting cryptocurrencies and digital tokens to give fans access to various content. While football fans and clubs get to benefit from the various attributes of this emerging technology, Cryptocurrencies and blockchain get a worldwide exposure which is much needed to boost crypto adoption.