French Footballing Giants Paris Saint Germain have made an announcement about creating a cryptocurrency for fans. This will most likely make them the first football club to officially venture into the industry.
An announcement was made September 11, about the signing of a partnership with the Maltese start-up Chiliz, at the head of the blockchain platform Socios.com, which is said to be in the form of a mobile application where fans would acquire club token PSG that grants fans voting rights to answer questions put forward by the club.
Questions are most likely not going to be about more strategic issues like who to sign it what business partnerships to make, but if more trivial issues like, Designs of Club official jersey, Place for Pre season tours e.t.c.
Fans with more tokens would have more influence in votes carried out.
According to Capital For a fan to acquire the token, the process will proceed as follows: he will visit the application Socios and purchase tokens PSG with his credit card. Those most at ease with the cryptocurrency universe will be able to acquire Chiliz on the specialized stock exchanges, before converting them to a PSG token in the Socios application. Chiliz announces that it will pay in commissions on transactions.
In recent times cryptocurrency have continued to be associated with football, Ronaldunho is also set to launch a Crypto aimed at penetrating the global sports industry by establishing youth football academies and the innovative concept of creating VR football stadiums in 300 locations across the Middle-East and South-East-Asia.
James Rodriguez launched his JR10 token co-created by SelfSell as a gift to his fans, aiming to create a closer fan community and more possibilities for him to interact with fans.
Chelsea legend Didier Drogba, in July announced he was to become an ambassador for a crypto social media platform called “all.me”, founded by American entrepreneur, Artak Tovmasyan.
There have been other news relating footballing entities and cryptocurrency, with clubs attempting to pay players wages with cryptocurrency and lits more, this surely won't be the last as more forays are to be expected as the Crypto world gradually spreads its tentacles across.