Binance Announces FC Barcelona Token (BAR) Offering with 30% Discount Ahead of Listing

by newconomy
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Users will be able to purchase FC Barcelona Fan Token (BAR) using Binance Coin (BNB) at a 30% discount for three hours prior to its trading.

Binance has revealed details on a new listing process that will be employed on FC Barcelona Token (BAR). With the new Launchpad subscription format, users can purchase BAR tokens using their BNB for a 30% discount. According to the official announcement, the subscription will run for 3 hours prior to commencing trading.

In the same announcement, the exchange confirmed official dates when users can begin trading their BAR token.

“Binance will list FC Barcelona Fan Token (BAR) in the Innovation Zone and open trading for BAR/BTC, BAR/BUSD and BAR/USDT trading pairs at 2021-04-21 11:00 AM (UTC). Users can start depositing BAR now in preparation for trading,” the announcement reads.

Binance has further revealed that the discount will have a hard cap of $2M, discount sale format will only be in subscription and only supported in BNB. Tokens Offered are 74,735 BAR (0.19% of Total Token Supply).

“Subscription Period 2021-04-21 5:00 AM (UTC) to 2021-04-21 8:00 AM (UTC): Subscription will open at this time for all eligible users for a 3 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB,” the company added.

What Is BAR Listed by Binance?

The BAR coin is a digital token offered by FC Barcelona through a partnership with blockchain company Chiliz. Fans holding these coins can use the token to buy football club merchandise and tickets. Furthermore, the coin can also be used to take part in surveys, polls and even vote on football club decisions. It further gives fans better access to the club. And also allows them to decide on some key changes and decisions.

Barcelona is one of a number of Football clubs that have offered this innovative way to get its fans involved. Its Spanish rival Atlético de Madrid launched ATM, a fan token. In Italy, Serie A giants Juventus has its own Juventus Fan Token (JUV). English Premier League football club Manchester City has also just recently announced its collaboration with Socios.com to launch a $CITY token, joining its London counterpart West Ham with its native token, WES.

BNB Aims for a New High

This announcement comes in the wake of a 20% BNB price rally. The token is currently flirting with the $600 levels, a key psychological position for both bulls and bears. Naturally, bulls will be tempted to aim for the $637 ATH set a couple of days ago. As we reported, last week, Binance burnt nearly $600 million worth of BNB in its quarterly BNB burn that is designed to reduce the total supply and artificially stimulate demand. In a surprising twist, the coin has seemingly not reacted to this historic event.

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Kiguru is a fine writer with a preference for innovation, finance, and the convergence of the two. A firm adherent to the groundbreaking capability of cryptographic forms of money and the blockchain. When not in his office, he is tuned in to Nas, Eminem, and The Beatles.

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