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Paris St Germain to Launch Own Cryptocurrency

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World-famous soccer club Paris St Germain look set to become the first club to launch its own cryptocurrency, according to an announcement from a local news site today (11th September). The club have launched a partnership with Socios.com, who will now be the Official Branded Cryptocurrency Partner of Paris St Germain, and will look to increase fan engagement through blockchain projects, including the club’s own crypto.

Image credit / copyright: Socios.com

The “FTO” (Fan Token Offering) will allow fans the right to vote on club polls and access exclusive experiences and rewards. According to Mac Armstrong, Chief Partnership Officer of Paris Saint-Germain:

Always at the forefront of digital innovation, 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 fanbase. We are very pleased to welcome Socios.com in the Paris Saint-Germain family.

Meanwhile, Socios.com founder Alexandre Dreyfus said: “We are delighted and very proud to have signed Paris Saint-Germain as our first club to work on the evolution of its fan engagement strategy through the Socios.com blockchain platform. As well as being a leader on the football pitch, Paris Saint-Germain is also a digital pioneer and this demonstrates its leadership in innovation. We admire the Club’s vision in being the first club in world football to adopt this new technology and set a new standard in fan engagement.” Socios.com will create a new connection between Paris Saint-Germain and its global fanbase, helping the club to integrate blockchain technology as part of its fan engagement strategy.”

The token looks set to launch in 2019, with official marketing already drawn up. According to the French news site (translated from French): PSG collaborated with the Maltese start-up ChiliZ to develop the socios.com platform, [which is] based on the blockchain to offer maximum transparency on transaction tracking. This platform (also available as a mobile application) will, from spring 2019, [allow users] to buy and sell tokens of Paris Saint Germain.

While Paris St Germain may well become the first club to launch a cryptocurrency, seven UK Premier League soccer clubs are also looking into a joint investment in eToro, with the purpose of facilitating Bitcoin sponsorship. The clubs involved are Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton and Hove Albion and Cardiff City.

Image Credit: Deposit Photos

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