BAR Token Sees Huge Trading Volume on First Trading Day

Vandana  |  Jun 25, 2020

FC Barcelona’s Fan Token, BAR token has seen huge trading volume in the very first day of trading. The token was able to generate $2.5 million in trade which is approximately double the funds which were raised through the crypto asset token sale. After this first day of trading, the token has been ranked as the second-most traded crypto asset right behind BTC or USDT. It has been noticed that within 24 hours of the sale, the token was able to rise by 420% which increased the price of the token from $2.32 to $12.05.

BAR token sold out within two hours

On the first day of trade, it was seen that the BAR token was sold out within just two hours of going live. 600,000 tokens were issued through Chiliz’s Socios tokenization platform which will be based on Ethereum (ETH). These tokens were issued at a price of $2.25. It was noted that the tokens worth $777,000 in just two minutes during the sale. The tokens were sold to different investors which are based across the world.

The BAR token holders will be getting various rewards which also includes VIP seats in the matches and along with this, they might also get a chance to meet the players of the team.

Chiliz launched fan tokens for seven soccer clubs

It has been seen that Chiliz has listed the BAR tokens across seven different soccer clubs. Along with this, it has also announced its partnership with UFC which is a leading martial arts promotions firm. UFC will be allowing the purchase of tokens on Socios platform and in exchange they will be getting the native token of Chiliz, CHZ. Back in April, Chiliz has also started working on COVID-19 ‘immunity pass’ solution which is based on blockchain for the live attendance at the soccer matches.

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