The French football giants Paris Saint-German is set to create history. The club is set to become the first football club to launch its token ecosystem. The French football club would associate with Socio.com, a Malta-based blockchain startup to issue its crypto for its fans. The effort is aimed at rewarding the club’s faithful fans. As per the plan, PSG loyal supporters will have the chance to buy “fan tokens offering (FTO)” which they can utilize to vote on the club’s judgments and also to gain particular fan contents. PSG’s fans will vote on declarations including stadium music, logo designs, and jersey color selections, alongside the player of the match, most worthy player and friendly match lineups.
According to a report on PSG’s official website said: “The partnership forms part of the club’s comprehensive strategy to integrate blockchain technology, to improve its relationship with fans and business operations.” Through Socios.com, transactions will be completely digital, secure, transparent and fully connected to the real fan experience.” The tokens will be accessible directly on the Socios application or by gaining tokens on the Chiliz blockchain platform, which can then be transformed into PSG currency. Also as stated by Citron Press, a French online paper, PSG hopes to finalize the FTO plan and start circulating out its exclusive tokens before the end of Spring 2019.
Socio which runs on ‘chiliZ’ – a sports blockchain ventures has gathered support from high-profile crypto capital players such as Binance. The blockchain venture has also raised nearly $66 million in funding to date, according to its CEO Alexandre Dreyfus. While the proposals would enable the club to engage more with its fanbase, PSG’s club chief partnership officer, Marc Armstrong stated that his club is set to leverage the chances that crypto can provide. It was also stated that that using blockchain technology would have a significant impact on the club’s overall business strategy.
For some time now, cryptocurrency has been earning increasing interest in football circles, Etoro announced that it had approved Bitcoin (BTC) advertising deal with seven football clubs in the English Premier League.
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