FC Barcelona, one of the most important teams in the Spanish league and in the world, has teamed up with the blockchain firm Chiliz to launch the Barça Fan Token (BAR), according to a press release that was shared with iHodl.
The token, which will give voting right to the team's more than 300 million supporters, will be launched during Q2 of the year.
Alexandre Dreyfus, Chiliz founder and CEO, said both parties had been in talks for 17 months before reaching a final agreement as it needed to be approved by Barça's board of directors.
Josep Pont, member of the board of directors and head of the commercial area at FC Barcelona, said:
"This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the Club closer to our fans around the world."
The token, which will be dubbed BAR and will have an initial price of 2 euros and a total supply of 40 million, can be purchased by the team's supporters via Socios and Chiliz apps.
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