FC Barcelona to Issue Tokens for Blockchain-Based Fan Platform

Olga Kharif, Bloomberg News

JEDDAH, SAUDI ARABIA - JANUARY 09: Lionel Messi of Barcelona avoids Angel Correa of Athletico Madrid during the Supercopa de Espana Semi-Final match between FC Barcelona and Club Atletico de Madrid at King Abdullah Sports City on January 09, 2020 in Jeddah, Saudi Arabia. (Photo by Francois Nel/Getty Images) , Photographer: Francois Nel/Getty Images Europe

(Bloomberg) -- FC Barcelona fans are about to get on the blockchain.

Barca, as one of the world’s most popular football clubs is known, will issue tokens for use on a fan-engagement platform. The tokens, expected in the second quarter, will let holders vote on a variety of decisions about the team such as what music to play in the stadium when the team scores a goal. The idea is to let supporters around the world participate in the club.

To get the coins, fans can download the Socios.com app, buy the app’s native coins, known as Chiliz, and then use them to buy the team’s Barca Fan Tokens. Fans will be offered 40 million Barca coins at 2 euros each, and most of the proceeds will go to the club, Alexandre Dreyfus, chief executive officer of Socios.com maker Chiliz, said in a phone interview. Chiliz tokens trade on several crypto exchanges, and can also be held in a cryptocurrency wallet.

FC Barcelona is the ninth top-tier team to sign up with Socios.com’s Chiliz to issue tokens, Dreyfus said. Other clubs include Paris Saint-Germaine and Juventus. Since the fan tokens debuted in December, some 110,000 users have signed up, buying an average of $20 worth of coins, he said.

“For all of these teams, it’s just another vertical -- the same way they have merchandising and etickets,” Dreyfus said. “We are not targeting the fans that are in the stadium that they know already. The idea is to reach the 99.9% of the people who are not in the stadium.”

To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Brendan Walsh