Not wanting to just be tied to fan tokens, the Barcelona football team announced their availability to launch a new cryptocurrency.
The decision was announced personally by the club’s president, Joan Laporta at the Mobile World Congress 2022 held in Catalan.
He believes that the presence of this cryptocurrency can support the fund, while competing with other football clubs owned by foreign investors and corporate organizations.
Be aware, fan tokens are an initiative for sports fans, especially football, to always get exclusive access.
It is slightly different from most cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), and XRP.
If it is true that this effort is implemented in the near future, Barcelona FC may be the first football team to have a crypto token.
Not only that, Laporta also revealed their plans to develop metaverse and non-fungible tokens (NFT).
It is due to these factors that Barcelona refuses to accept sponsorship from any crypto company, including sponsorship offers from Polkadot and Binance, but is expected to partner with Spotify.
FC Barcelona Fan Token details
BAR is the third most valued fan token after Paris Saint-Germain (PSG) (#1) and Manchester City (CITY) (#2).
At the time of writing, BAR is trading at $ 8.32, down more than 2% in 24 hours.
Although fan tokens are gaining popularity among football fans, there is no denying that its market value has been declining since last year.
Based on observations, it can be concluded that the increase in the price of fan tokens depends on mere speculation. The proof is, the price performance of fan tokens often declines after the official listing.
Anyway, fan tokens don’t have the various utilities to attract more fans except voting rights, rewards, merchandise, and other benefits related to a favorite football club.
