It has been reported that the $1.3 million sales ran its course in less than two hours, which were expected to last 48 hours. At its peak, it sold $777,000 of tokens in less than 2 minutes.
However, Alexandre Dreyfus, the CEO of Chiliz and Socios, has announced the news in a tweet.
Barcelona Fans Pile Over $1m Into 'Fan Tokens' in Under 2 Hours https://t.co/k6EaFKtlkC — Alexandre Dreyfus (@alex_dreyfus) June 22, 2020
Dreyfus noted that the token sale saw more than 4,000 fans from 106 countries participate, as he said that the top buyers came from Turkey, Poland, Japan, France, Spain, the United Kingdom, and Italy.
He added that Chiliz and Socios experienced a five-fold increase in demand during the sale.
Barcelona Generates $1.3 Million With Virtual 'Fan Tokens' https://t.co/l1Evu54Twu — Alexandre Dreyfus (@alex_dreyfus) June 22, 2020
Also, Dreyfus said that the companies originally planned for the flash sale to the last 48 hours. Despite experiencing some delays on Socios.com during the sale, it ran its course much more quickly than that.
“I guess that’s why Barça is big and also why we are pushing hard with the cryptosphere.”
FC Barcelona said in a statement that FC Barcelona’s BAR tokens are designed to bring more interaction with Barça fans. BAR token holders can take part in community surveys and polls, as well as earn unique prizes like the chance to meet players before a game.
Likewise, the latest token sale came to celebrate the official launch of the BAR token.
According to FC Barcelona, the flash sale involved 600,000 tokens at a set price of 2 euros each.
Soccer giant FC Barcelona completed its $1.3 million token sale in less than two hours https://t.co/MhLNXExjtS — Cointelegraph (@Cointelegraph) June 22, 2020
It has been analyzed that after the flash sale, the BAR token is scheduled for trading launch on Chiliz and Socios on June 24, as the tokens will be available only for purchase and for trading against Chiliz’s native token (CHZ) at a market price depending on demand and supply.
As per the report, the FC Barcelona Fan Token is featured as an “untracked listing” on major crypto prices website CoinMarketCap.
Thus, FC Barcelona’s BAR token is just one among numerous sport tokens handled by Chiliz and Socios platforms.