Altcoins: FC Barcelona Fan Token (BAR) — What Is It? — A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform

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Sum­ma­ry:

  • What is The FC Barcelona Fan Token and how does it work?
  • What makes the FC Barcelona Fan T exchange unique?
  • FC Barcelona Fan Token’s past, present and future price positions.

The FC Barcelona Fan Token (BAR)

The FC Barcelona Fan Token (BAR) is a util­i­ty token devel­oped in asso­ci­a­tion with Chiliz, a lead­ing glob­al provider of blockchain finan­cial solu­tions for the sports and enter­tain­ment sec­tor. Fan tokens are dig­i­tal assets with no expi­ra­tion date that enable their own­ers to take part in quizzes, con­tests, and polls that are post­ed on the Socios.com app, a sports fan inter­ac­tion plat­form cre­at­ed by Chiliz and built on Chiliz Chain.

The one and only offi­cial Barça fan token, $BAR, gives sup­port­ers a tok­enized say in the direc­tion of their pre­ferred team. The token was devel­oped with the inten­tion of unit­ing the neigh­bor­hood and draw­ing a large audi­ence by facil­i­tat­ing com­mu­ni­ca­tion with the soc­cer club.

When the BAR token was intro­duced in June 2020, it gave its users the option to do sur­veys on FC Barcelon­a’s activ­i­ties and the chance to win spe­cial prizes. Token own­ers vote through a smart con­tract, and FC Barcelona is required to con­sid­er the results and put them into practice.

Users can par­tic­i­pate in com­pe­ti­tions for spe­cial ben­e­fits and team recog­ni­tion using Fan Tokens as a mem­ber­ship. Tick­ets to games, spe­cial fan events, Socios.com bonus­es, club NFTs, and dig­i­tal badges are among the rewards. Mem­bers can also acquire VIP prod­ucts and ser­vices, VIP access to sta­di­ums and match tick­ets, and exclu­sive col­lectibles through BAR. Users have access to the gam­i­fied util­i­ty and can stake BAR for NFT payouts.

The Uniqueness of FC Barcelona Fan token

You must have at least one $BAR in order to join the com­mu­ni­ty, start influ­enc­ing club deci­sions, and take part in Fan Rewards com­pe­ti­tions. How­ev­er, the quan­ti­ty of tokens you have deter­mines how much influ­ence you have, and some actions might call for more than one token.

Token hold­ers get exclu­sive ben­e­fits like VIP admis­sion to Camp Nou’s home sta­di­um, the chance to meet leg­endary foot­ball play­ers, the abil­i­ty to attend auto­graph sign­ings, and the abil­i­ty to pur­chase team merchandise.

Barça uses Socios.com to engage with fans and col­lect feed­back by pub­lish­ing polls. BAR hold­ers are only per­mit­ted to cast one vote, but if a user casts 10 votes, those 10 votes will be count­ed. Polls are restrict­ed to a fixed num­ber of tokens, decid­ed upon by the club itself, in order to main­tain fair results.

BAR hold­ers receive VIP access to all home league, cup, and Euro­pean match­es through to the bonus sys­tem in the Socios platform.

Between a foot­ball team and its devot­ed fol­low­ers, the Socios.com plat­form acts as a medi­a­tor and offers dig­i­tal, safe, and trans­par­ent rev­enue streams. Because Socios is built on smart con­tract tech­nol­o­gy, the Ethereum blockchain, and a cus­tom crowd con­trol sys­tem, users are immune from manip­u­la­tion and can only cast votes in open­ly ver­i­fied polls.

The Chiliz Chain is used to cre­ate all fan tokens, and Chiliz is also used to pow­er all vot­ing on the plat­form. Chiliz Chain enables users to secure­ly share data because it uses a pub­lic ledger of infor­ma­tion that is trans­mit­ted through a peer-to-peer (P2P) net­work, dif­fi­cult math­e­mat­ics, and cut­ting-edge pro­gram­ming codes to store data.

The cur­rent mar­ket cap­i­tal­i­sa­tion for this cryp­to is cur­rent­ly $22,924,240. There is a max­i­mum of 40,000,000 BAR tokens, 3,951,907 (10%) of these are cur­rent­ly in circulation.

Past, present and future prices of The FC Barcelona Fan Token network (BAR)

The price of BAR token took awhile to take off, BAR hit its first price peak in ear­ly March 2021 at a price of $46.77. There­after the price has shown volatil­i­ty and has been on an over­all down­ward trend to date.

Over the past few months, the glob­al mar­kets have been fac­ing strong investor risk-off sen­ti­ment in the wake of the geopo­lit­i­cal ten­sions, Covid-19 lock­downs in Chi­na and sup­ply chain issues. The cryp­tocur­ren­cy mar­ket has fol­lowed the trends of the greater mar­ket dur­ing these times, there­fore the price of most cryp­tocur­ren­cies have been falling, BAR does fall under this category.

Accord­ing to some ana­lysts, the future price of The FC Barcelona Fan Token net­work (BAR) could reach up to $17.57 by 2025 and could see a price of more than $108.38 by 2030. How­ev­er, it is impor­tant to remem­ber that this future price pre­dic­tion is based sole­ly on data and does not take into account fac­tors such as investor sen­ti­ment and the ever chang­ing mar­ket con­di­tions, both of which make it dif­fi­cult to make accu­rate future price predictions.

Altcoins: FC Barcelona Fan Token (BAR) - What Is It? - A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform - 1 BAR Cryp­to Price Chart

Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com



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