RATE Group | Barcelona Enters the Sports Cryptocurrency Game
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Barcelona Enters the Sports Cryptocurrency Game

14 Feb Barcelona Enters the Sports Cryptocurrency Game

Posted at 02:26h in Cryptocurrency News by

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By Robert Bell
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Spanish soccer giant FC Barcelona has revealed that it has made a move into the sports cryptocurrency world. What does this mean for Barca fans, and can we expect other sports teams to do something similar?

Barca joins the sports cryptocurrency market
Image courtesy of Pxfuel

What Does It Involve?

Barca has teamed up with the fintech platform Chiliz to produce a virtual token on the blockchain. The coins are known as Barca Fan Tokens (BAR) and can be used on the social media app that is called Socios.

Alexandre Dreyfus confirmed that the BAR token will be available on the Chiliz blockchain platform that is based on the Ethereum network. He said that it is confirmation of a “long term vision about fan engagement and monetization”.

Developers at Chiliz have been working on the Socios app for the last few months. Around 100,000 users took part in the beta testing phase. This phase has now been completed.

How Popular Could This Sports…

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