The first day of trading for the FC Barcelona fan token was very successful – the BAR cryptocurrency has seen a volume that almost doubled the $1.3 million which was raised in the token sale of the crypto asset earlier this week.
We can see that in less than one day, the cryptonews showed that the FC Barcelona Fan Token (BAR) generated just shy of $2.5 million in trade activity. This helped in ranking the crypto asset as the second most traded market on the Chiliz trading platform right behind BTC/USDT.
The sole pairing of the token against the Chiliz native token CHZ has also produced more than five times the 24-hour trade volume of all of the other pairings within the trading platform.
The surge was beyond incredible – the FC Barcelona fan token managed to rise by 420% from $2.32 to post a local high of $12.05 before it retraced by nearly 50% to trade at $6.25 afterwards.
Within only 24 hours of going live, the FC Barcelona fan token sold out in less than two hours on June 22, with the 600,000 BAR tokens issued via the Chiliz Ethereum (ETH) based Socios tokenization platform at a fixed price of $2.25.
Chiliz also noted that $777,000 worth of BAR were sold in only two minutes during the sale, asserting that the demand for this token exceeded its initial supply limit by more than five times. The tokens were sold to investors that were based in 106 different countries.
As you may not know, the FC Barcelona fan token is designed to allow fans to vote in polls concerning the football club, and will offer token holders a change to receive rewards such as VIP guest seating at matches as well as various other chances to meet the players of the team.
As reported before in the altcoin news, the BAR cryptocurrency can be used to vote on fan artwork that will be installed in FC Barcelona’s dressing room at the team’s home stadium. Chiliz has launched seven different fan tokens for soccer clubs.
In addition to this, Chiliz announced a partnership with the leading mixed martial arts promotion UFC which will allow tickets to be purchased on the Socios platform in exchange for the CHZ token.
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