A new chapter in the history of French football is about to go down. Paris Saint Germaine’s fan token offering will be the first one of its kind in both football and cryptocurrency spaces. In a September 11 announcement, the French football club is partnering a Maltese blockchain start-up, chiliZ, in the venture. The start-up is responsible for the Socios.com blockchain platform.
According to Capital, a French news outlet, the launch will happen in 2019. The application will generally run on a mobile phone to give more Paris Saint Germaine’s (PSG) fans access. Through the platform, PSG fans will acquire tokens. The French publication also details that fans will be able to vote through answering “questions submitted by the club.”
Integrating fans more into the club’s affairs
Specifically, the fan token offering (FTO) will enable fans to have a bigger say in club issues like jersey colour. Fans will also be able to give their input regarding the player of the match, charity line-ups and other aspects. Basically, the club management wants to leverage blockchain to involve fans more in the club affairs.
Commenting on the development, Marc Armstrong, Chief Partnership Officer of PSG said:
“Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency 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.”
Paris Saint Germaine’s fan token in line with club strategy
According to the CEO the Paris Saint Germaine’s fan token will monetize fan’s engagement through a digital token. Further, the PSG CEO, Alexandre Dreyfus, adds that fans will be able to complete transactions in $CHZ. This is a digital token native on the chiliZ platform. The FTO will go live before the start of the coming season, BCFocus reports.
Local media report that the price of the native token is unknown at the moment. They speculate that the token might have its value fixed to the Euro to make its price more stable.
In the long-term, the club’s management hopes the move will help bolster the club’s overall strategy. “This breakthrough technology will have a significant impact on the club’s overall business strategy and how we interact with our fan base,” said Marc Armstrong