FC Barcelona Fan (BAR) is the utility token of the FC Barcelona football club that gives users the ability to participate in various club activities such as voting in polls, selecting a goal celebration song for the playlists of the match day in the stadium and influence the design of the art murals in the team dressing rooms.
FC Barcelona Fan Tokens, available for purchase through the Socios.com app, allow holders to collect reward points which can even be used to visit Camp Nou, the club’s home stadium.
Barça tokens, as they are otherwise known, were developed in collaboration with Chiliz (CHZ), the blockchain-based sports entertainment platform with the aim of engaging fans around the world and providing them with opportunities for interact with the Spanish soccer team.
FC Barcelona Football Club, a multi-sport organization with over 144,000 members, was established in 1899. It is one of the best-known sports clubs in the world.
What is the FC Barcelona Fan Token?
BAR is powered by the Chiliz Chain, a proof-of-authority (PoA) sidechain built on Ethereum, where fan participation votes are made through a series of smart contracts.
Chiliz developed the Socios.com app. It is built on the Chiliz blockchain infrastructure. In June 2020, the project held a token flash sale – 600,000 BAR tokens were available for purchase on the Chiliz platform.
FC Barcelona fan tokens can provide users with VIP guest access to Camp Nou. Cardholders may be eligible to receive video messages from football players. Socios.com, the app that hosts the FC Barcelona Fan Tokens, also offers Augmented Reality (AR) functionality that allows users to purchase BAR Coins. Users must purchase BAR tokens to participate in surveys on the Socios.com app.
BAR Price Analysis: Technical View
At the start of 2021, BAR was trading between $10 and $13 for two months until March 15, 2021, when the price reached an all-time high of $53.64.
This rally coincided with the announcement made in the same month of the release of FC Barcelona Fan Token NFTs on Socios.com App. No date has been specified for their launch.
After dropping to $27.89 on April 6, 202, the FC Barcelona Fan cryptocurrency rallied, reaching $51.99 on April 7.
After dropping to $35.48 on April 19, another spike followed, with the BAR coin reaching $47.27 on April 21. On the same day, Binance, the world’s largest crypto exchange, announced that it would offer a dashboard subscription format where users could purchase BAR tokens using Binance Coin (BNB) at a discount of 30 % for a limited period of three hours before the coin was listed for trade.
In the summer of 2021, it was announced that Lionel Messi, one of the highest paid athletes in the world, would transfer from FC Barcelona to the football club Paris Saint Germain (PSG). BAR price action declined after its transfer on August 10, 2021, reaching a low of $15.22 on September 21, 2021.
In November 2021, FC Barcelona appointed Xavi Hernández as their new head coach. But the coin continued to trade in the $11-$15 range during the month. It is currently trading (January 20) at around $7.67 and ranks 760th in the list of cryptocurrencies by market capitalization at $27 million, according to CoinMarketCap.
Technical analysis provided by CoinCodex showed short-term sentiment on BAR to be bearish, as of January 20, with one indicator showing a bullish signal versus 24 bearish signals.
Both simple and exponential daily moving averages were giving “sell” signals, according to TradingView data, while the relative strength index (RSI) stood at 35, as of January 20. An RSI reading of 30 or lower indicates an oversold or undervalued condition, while a reading above 70 would suggest the asset is becoming overvalued or overbought.
VIP guest access for fans worldwide
A remarkable feature of the FC Barcelona Fan Token is that it allows users to impact the activities of the football club. For example, the club encourages BAR holders to submit designs for art murals that have the potential to be displayed in team locker rooms.
Additionally, BAR holders can submit songs they want to use for matchday playlists through the Socios.com app. Users also have VIP guest access to the Camp Nou, as well as matchday tickets.
The upcoming launch of FC Barcelona Fan Token NFTs will also give the project a boost. In June 2020, FC Barcelona held a token flash sale where all 600,000 BAR tokens sold in less than two hours of their release, earning the club $1.3 million.
Chiliz said that in the first five minutes of trading on its platform, BAR grew by 200%, reaching the trading volume milestone of $1 million within the first six minutes.
A major benefit to the project is that alongside its 144,000 club members, FC Barcelona has expanded its global reach and has a large number of social media followers:
more than thirty million followers on Twitter
more than one hundred million followers on Facebook
over one hundred million Instagram followers
Following his transfer to Paris Saint Germain in August 2021, Lionel Messi was the first footballer to receive a large number of fan tokens, namely PSG coins, included in his signing deal – a one-of-a-kind deal.
A risk for the project is that the Socios.com app and platform have server crashes experienced in the past.
“Given that the US Federal Reserve recently announced three interest rate hikes that are expected to take effect this year, cryptocurrency assets such as the FC Barcelona Fan Token could be affected. Additionally, BAR is an asset little traded which could impact wider adoption,” said Crispus Nyaga, financial analyst at Invezz.
H2: BAR Price Prediction: Buy, Sell or Hold?
When it comes to any crypto price predictions for FC Barcelona fans, the algorithm-based forecasting service Wallet Investor has given a negative outlook. Based on historical data, Wallet Investor estimated the price to rise to $7.437 in February 2022, fall to $0.573 in January 2024 and reach $0.30077 in January 2025.
The price of digital coins, on the other hand, gave a bullish prediction for BAR coins, expecting the token to reach $9.72 in February 2022, $11.29 in 2023, $17.72 in January 2025 and $28.3 in January 2028.
Although the FC Barcelona Fan Coin price prediction for 2030 is not yet available, the digital coin price suggested it could be $34.19 in December 2029.
Note that the predictions may be wrong. Forecasts should not replace your own research. Always do your own due diligence before investing. And never invest or trade money you can’t afford to lose.
Read more: Harmony (ONE) price prediction: can it hit $1?
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