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Cryptocurrencies

Well-known French football club to roll out its own crypto

Wednesday 12 September 2018 | 12:52 PM CET

Paris Saint-Germain (PSG), a major French football club, has announced plans to issue its own cryptocurrency as a way to incentivize participation from its fans around the world.

PSG is eyeing a deadline of spring 2019 to start issuing its proprietary tokens, making it potentially one of the first football clubs anywhere to do so, CoinDesk cited a French news site. Moreover, PSG announced a multi-year partnership with a Malta-based blockchain startup called Socios that will tackle on the technology for the so-called Fan Token Offering.

The goal of PSG’s coin is to allow fans who hold the token to be able to vote for and decide on less strategic matters, such as team jersey choices or opponents in friendly matches, the report said. Token ownership will further give fans access to more exclusive offers such as meeting with players or participating in certain matches.

Also, by adopting blockchain as the underlying technology for the issuance, PSG said the hope is to make the polling process more secure and transparent, with transactions being publicly visible.

More: Link
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