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Paris Saint-Germain To Launch Cryptocurrency

Crypto News

Paris Saint-Germain, a French professional football club based in the city of Paris, is all set to launch its own cryptocurrency. The soccer club has announced a multi-year strategic partnership with the blockchain platform Socios.com. Paris Saint-Germain is the current French Ligue 1 champions and it has now joined the blockchain/cryptocurrency project as part of an inclusive strategy to integrate distributed ledger technology with fans.

Founded in 1970, the PSG has typically worn red-and-blue kits. The club plays in the highest rank of French football, Ligue 1. PSG have won a total of 38 trophies, making it the most successful French club in history.

PSG will be the first club in the history of soccer to join the Socios.com blockchain platform. As per the announcement, Socios.com will work alongside the club to create the world’s first Fan Token Offering (FTO) for fans of Paris Saint-Germain. The tokens issued will be listed and available on the platform Socios.com. It will allow fans to join in the life of the club, in the form of votes or online polls. Token holders will also have the advantage of accessing exclusive rewards, content, and experiences. The platform will use ChiliZ tokens, developed by Socios founder Alexandre Dreyfus.

Marc Armstrong, PSG’s Director of Sponsorship, said:

Always at the forefront of digital innovation, Paris Saint-Germain is determined to exploit the opportunities offered by cryptocurrency. This revolutionary technology will have a significant impact on the overall business strategy of the club and how we interact with our fans. We are pleased to welcome Socios.com to the Paris Saint-Germain family. 

Socios.com provides a solution for any football club to increase their fan base via a custom Fan Token Offering (FTO). In this, it gives fans access to club branded Fan Tokens and voting rights and access to VIP level club rewards and engagement options. This will also generate a passive revenue as a club’s fans use the platform to exercise their decision making power.

Alexandre Dreyfus, founder and managing director of Socios.com said:

We are delighted and very proud to have signed with Paris Saint-Germain, the first club to work on the evolution of the engagement strategy of its fans thanks to the socios.com blockchain platform. In addition to being a leader on football fields, Paris Saint-Germain is also a digital pioneer and demonstrates its leadership in the innovation sector. We admire the club’s vision and desire to be the first club in the world of football to embrace this new technology and develop a new standard of fan engagement. 

This is not the first time a football club is in the news regarding cryptocurrency. A few days ago, the owner of the Gibraltar United FC (GUFC) team invested in Quantocoin blockchain platform which is specialized in cryptocurrency payments. In this, player contracts will include payment agreements in cryptocurrency by next season. It is not yet confirmed whether the players will get paid in Quantocoin or in other cryptocurrencies.

In January 2018, Gibraltar launched regulations for companies using the blockchain and the government is ready to launch the world’s first legal platform for initial coin offerings (ICOs), which raise funds for the launch of cryptocurrencies such as bitcoin on to the blockchain. In January 2018, Gibraltar launched regulations for companies using the blockchain and the government is ready to launch the world’s first legal platform for initial coin offerings (ICOs), which raise funds for the launch of cryptocurrencies such as bitcoin on to the blockchain.

Also, there are football stars, who have a massive fanbase – both online and offline – and have been endorsing various crypto startups around the world. A few days ago, Ivorian footballer Didier Drogba teamed up with cryptocurrency-based social networking platform all.me. Another football star, Luis Suarez, who currently plays as a striker for Spanish club Barcelona and the Uruguay national team, has also endorsed the Ethereum-based prediction market platform, Stox. Ronaldinho, the Brazilian football star and ambassador for Spanish club Barcelona, declared earlier this year that he is launching the Ronaldinho Soccer Coin (RSC) Project.

Socios.com wants to create a new connection between Paris Saint-Germain and its fan community, which will help the club to integrate blockchain technology. The company will also benefit from this partnership, especially in terms of stadium visibility, TV and digital exposure, as well as customized content and options related to the experience and fans.

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