Paris Saint-Germain brings Ethereum-based token for fans

By January 29, 2020 Ethereum
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  • The French football club Paris Saint-Germain (PSG) launched a temporary token sale for its fans.
  • In the first sale, a total of 20 million $PSG tokens are available for an initial price of 2 Euro.

Since the end of October 2018, the PSG football club has been working on the introduction of a fan token, which is offered in cooperation with the blockchain platform socios.com. Yesterday, the platform announced the official start of sales of the $PSG token via a press release. $PSG is an ERC20 token that will be launched on the Ethereum blockchain.

Les Fan Tokens du $PSG sont désormais en vente pour une durée limitée ! Ceux-ci vous permettent de voter à des sondages liés à votre club et de rivaliser pour vivre des expériences uniques.

Découvrez le premier sondage en téléchargeant l'application ici: https://t.co/WK8glt7Nc4

— Paris Saint-Germain (@PSG_inside) January 28, 2020

A total of 20 million $PSG tokens will be offered at the introductory price of 2 Euro. With the purchased tokens, fans can participate in various surveys. The token cannot be sold, but serves the sole purpose of eligibility. For the first vote, an inspirational message will be sent to captain Thiago Silva and future captains of the club as a bandage around their arms. The platform states:

Only those in possession of $PSG Fan Tokens are eligible to vote. Fans can purchase $PSG Fan Tokens exclusively in the Paris Saint-Germain Fan Token Offering (FTO™), which is now open on Socios.com.

In addition, hundreds of thousands of Chiliz ($CHZ), the digital currency of Socios.com, and a limited number of $PSG Fan Token Token Hunt were issued free of charge as part of the Augmented Reality (AR) event.

All surveys take place in a secure environment, the Ethereum blockchain, so that all votes are registered and stored tamper-proof. The company describes:

This means that Paris Saint Germain fans can use $PSG Fan Tokens to vote on club matters confident that the vote will be fair and meaningful.

Marc Armstrong, Chief Partnerships Officer at PSG, calls this step a historic milestone in the history of the football club and underlines that this development is intended to increase the proximity to the fans:

This is a very meaningful moment in the Paris Saint-Germain x Socios.com partnership history. Thanks to the launch of PSG Fan Token, our fans will now be able to drive important and symbolic decisions for the Club. As of today, the Club reinforce its proximity with fans, which is one of our main values.

Alexandre Dreyfus, CEO and founder of socios.com, explains that in the future, fans will be able to participate in the redesign of the club’s identity while enjoying high-quality rewards and surprises. PSG is not the first football club to digitize its own football brand in collaboration with socios.

Other top clubs from Europe that already cooperate with Chiliz are Atletico Madrid ($ATM), West Ham United ($WHU), Galatasaray Istanbul ($GAL) and Juventus Turin ($JUV). Blockchain technology is used in a wide variety of areas, including the blockchain gaming sector.

Blockchain Gaming market is growing

The global gaming market is expected to grow by more than 10% to a volume of 90.1 billion USD through the use of block chain technology. According to Technavio, the blockchain provides great growth opportunities for the gaming industry:

The integration of blockchain technology also provides decentralized asset exchange, verifiable scarcity of virtual objects, fast and secure payment networks, and can enable game service providers or game developers to monetize their gaming services. Thus, it is expected that the integration of blockchain technology in the gaming industry will present a huge growth opportunity for market participants during the forecast period.

A blockchain based game in the sports area with already well-known partner is Sorare. The game is a fantasy game based on the Ethereum Blockchain, where users can collect unique cards and compete against each other. The digital cards represent the identities of the world’s best football players. The rarer a card is, the higher its value in ether. In total, more than 23 prominent football clubs, such as Schalke 04, Valencia CF or Atletico Madrid, have registered for the event.

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Last Updated on 29 January, 2020

In the first sale, a total of 20 million $PSG tokens are available […]

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