Coin Vs. Coin: ACM/BAR
In the Fan Token sector of cryptocurrencies, two cryptos that are in the top ten by market capitalization are AC Milan (#8) and FC Barcelona (#1). Enthusiastic football fans with an interest in crypto know they are buying more than just another token, users are buying the ACM and BAR fan token experience.
What is ACM?
ACM is the official fan token of the Italian football club AC Milan. The token is managed under Socios, a fan token platform that manages 40 football club tokens. ACM owners can vote on various club decisions such as team jersey designs, fan events, and participate in team polls and the wen roster vote.
ACM token holders can also earn exclusive promotions and VIP rewards, and participate in the club’s chatroom. AC Milan token holders have even participated in choosing the team’s motto (“It happens to those who believe it”).
As for ACM’s tokenomics, it has a live market cap of $11.5 million at press time. ACM has a circulating supply of 4.1 million coins and the max supply is not currently disclosed. ACM can be traded on Binance, Bitrue, and a handful of other exchanges.
What is BAR?
BAR is the official fan token of the Spanish football club, FC Barcelona (Barça). Launched in June 2020, BAR was created to bring Barça’s sizable global fan club together, offering different levels of access to the team and the club’s management.
Like ACM, BAR owners vote through a smart contract built on the Chiliz blockchain, in partnership with Socios. BAR holders have exclusive access to the club’s home stadium, Camp Nou where they can acquire team merchandise, receive player autographs, and meet former players who are considered legendary by many fans. The club sets limits on the number of tokens owned to maintain fairness in its polls and voting.
BAR launched with 600,000 tokens that cost €2, rendering $1.4 million for the club. The token has a $23 million market cap with a circulating supply of 5.4 million BAR coins and a maximum supply of 40 million coins.
Similarities
ACM and BAR are under the Socios platform which was launched in 2018 by the French entrepreneur, Alexandre Dreyfus.
Were developed on the Chiliz blockchain, a proof-of-authority sidechain built on Ethereum that is a fintech powerhouse in the sports and entertainment industries.
Give their holders an exclusive fan experience through access to their respective clubs’
Can be bought using the $CHX (Chiliz) token through the Socios app.
Allow fans of AC Milan and FC Barcelona to have a deeper experience with the teams they love, no matter where they live.
Differences
ACM was the first football club in the world to launch a token.
BAR allows a number of votes equal to the number of tokens held by an owner, but they are only allowed to vote once in each decision.
BAR offers many of the same kinds of VIP rewards as ACM, but includes many more such as being included on the club’s leaderboard, watching matches with their favorite club legend, and even traveling on the club’s private plane.
Fan tokens
Unlike NFTs, fan tokens are completely fungible, that is, they are interchangeable with a like token. They are often not substantiated by underlying assets, like a stablecoin, but are nonetheless used as currencies within each sports club to purchase game tickets, team merchandise, and of course access VIP perks.
Blockchains like Chiliz specialize in these kinds of unbacked, fungible tokens and fan tokens are a relatively new digital asset in the crypto space. Fan tokens are purchased more for their utility, such as VIP access than they are for their market valuation. As such, they are unique among their NFT counterparts which often promote art more than the utility.