French football giant Paris Saint-Germain Football Club (PSG) will establish its own crypto currency. This token intends to incentivize its fans over a blockchain. This will introduce PSG, a top French Ligue 1 Club, with the blockchain company Socios.com. Even though precise date and also pricing are not yet been shown, PSG’s Fan Token Offering (FTO) will happen before the onset of soccer season.
Chilliz CEO Alex Dreyfus explained that while PSG could be the first high-profile club to combine with the initiative, the platform fundamentally intends to incorporate “countless millions” of football fans of multiple high-quality football clubs globally. Dreyfus explained that the plan reflects a restricted token mechanism, and that will not tokenize the existing arrangement of the club but relies on monetizing and incentivizing fan participation and adventures via crypto. Chief Partnership Officer of PS Marc Armstrong further stated: “We’re focusing on onboarding the biggest clubs in Europe and in the coming weeks, we will announce other big clubs who will be joining our platform.”
Dreyfus explained that the stage will help educate and to engage a demographic regarding crypto and block chain. Speaking only on CCN, Dreyfus clarified that the stage was looking forward to further collaboration with other top soccer clubs. PSG’s partnership with Socio.com will allow the club to establish a Fan Token Offering (FTO) which offers fans use of branded Saint Germain club privileges that, put together together with voting rights, can also confer VIP rewards or status with their holders. The venture is dependant upon the ‘socios’ concept that already exists between soccer lovers of Barcelona and Real Madrid.
Dreyfus is a recognizable place from the Malta blockchain scene who has brought numerous crypto businesses to Malta for example Binance. He’s also active from the Malta blockchain Campus that aims to create crypto along with blockchain businesses together under one roof and which is presently under construction at the town of Sliema. “Paris Saint-Germain is determined to leverage the opportunities that crypto currency can provide. This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fan base”, he added.
PSG is one of France’s premier football teams also it has been hailed as the nation’s”most popular” team Qatar’s state investment firm owns and bankrolls the team. They also hold the record for the highest transfer fee paid from Barcelona In 2017 with the $263 million purchase of football star Neymar. This is exactly the type of “everyday” use that will ultimately transform how we, everyday people, can use blockchain, as we’ve discussed a few days ago with Brian Armstrong, and how cryptocurrency will reach 1 Billion people in 5 years. Pls click here.
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