NewsletterMessi’s FC Barcelona Team Crypto Launch This Week. What are FTOs?
One of the largest football clubs in Europe, FC Barcelona, is set to launch its’ Token Offering on 22nd June 2020. The team, currently led by Lionel Messi has a rich history of winnings and players like Ronaldinho, Johan Cruyff, Xavi, Iniesta and more. On Twitter itself, the sporting clubs’ following is over $32 million.
The $BAR token sale will be conducted on Chiliz.net and Socios.com App. The value of the $BAR at the time of the ‘Fan Token Offering’ is 2 Euros, with a total supply of 1 million. The sale will be conducted for a period of 48 hours beginning on 22nd June at 1 pm CEST.
Fan Tokens of some the clubs like Juventus ($JUV), Galatasaray ($GAL) and Paris Saint-Germain ($PSG) have all already been listed. This is the first time they will be conducting a public sale.
Fan Token Offering (FTO)
An FTO (Fan Token Offering) sounds far too similar to an Initial Coin Offering (ICO). In fact, it is. While ICOs were utility coins with a potential market, only these are more like credits or club points. Nevertheless, it will help in monetization and added liquidity for the organizers and increase the engagement of fans. The price of the token will be determined by ‘fan sentiment, match results, tournament victories as well as transfer window activity.’
As for Juventus ($JUV) token, the price is up over 200% from $2 in April, currently around $6,84. The European football club activities are followed all around the world has the potential of strong adoption of the tokens as well. Moreover, the Chilliz Token on which the token is being launched stands to gain from it as well.
Time for Chilliz Token FOMO?
Chilliz Token [CHZ] is up 5.2% since the announcement earlier this morning. It is essentially the platform which hosts these tokens and offers to trade on the Chilliz.net website. With the increasing popularity of the Fan tokens, Chilliz stands to gain from the combined attention.
The future of tokenization in the sport seems near with blockchain adoption. However, the risk involved in the investment on these tokens from an investor point of view is high, almost similar to an ICO.
How do you think the future of the football fan tokens will pan out? Please share your views with us.
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