One of the wealthiest football clubs in the world, based in Paris, France, is officially part of the latest cryptocurrency news – because of the launch of its own cryptocurrency with a token offering that will aim to incentivise its supporters over a blockchain.
The Ligue 1 club, Paris St. Germain or also known as PSG, partnered with the blockchain company Socios.com which is based in Malta. This partnership is based on the ‘socios’ concept that exists between the football fans of Real Madrid and Barcelona, two of the most popular and successful Spanish football clubs.
Meanwhile, PSG is more than just a football club – it is a brand followed by many supporters. As the most dominant team in the past few years, it plays in the highest tier of the French soccer league and has been even hailed as the country’s “most popular” team.
Owned and bankrolled by a Qatar state investment firm, PSG holds the record for the highest transfer fee – the purchase of the Brazilian football star Neymar from Barcelona in 2017 – for a sum of $263 million.
Socios, on the other hand, describes itself as a digitized and tokenized form of the crowd-management concept of Real Madrid FC & Barcelona. Powered by a sports blockchain venture dubbed chiliZ, the platform has the backing of high profily crypto industry players that include the names of Binance.
The CEO of Chilliz, Alex Dreyfus, commented on the latest collaboration with PSG, stating:
“We are focusing on onboarding the biggest clubs in Europe and in the coming weeks, we will announce other big clubs who will also be joining our platform. Outside of France, our priority is clubs in the UK, Italy, Spain and Germany.”
Following this partnership, PSG will launch its own Fan Token Offering (FTO) that gives fans access to branded items and tokens which come with voting rights and can also confer VIP status and rewards to their holders. With this, fans will have freedom in choosing their club’s jersey color, stadium music, logo and other promotional materials.
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