PARIS SAINT - GERMAIN CRYPTO

PSG plays in the highest tier of France’s soccer league and has been hailed as the country’s “most popular” team. The club is owned and bankrolled by a Qatar state investment firm and holds the record for the highest transfer fee paid with the $263 million purchase of Brazilian football star Neymar from Barcelona in 2017.

Socios describes itself as a digitized, tokenized form of the “Socios” crowd-management concept of Real Madrid & FC Barcelona — “socios” means member or associate in Spanish. The platform is powered by a sports blockchain venture dubbed chiliZ, which has the backing of high profile crypto industry players that include crypto exchange Binance. chiliZ has raised $66 million in funding to date, according to sources.

PSG’s partnership with the platform will allow the club to launch a Fan Token Offering (FTO) that gives fans access to branded Saint German club tokens which come with voting rights and can also confer VIP status and/or rewards to their holders.

Fans will reportedly be able to vote on “cosmetic” decisions (choosing the club’s jersey color, stadium music and logo) and certain sports aspects (MVP, Player of the Match or Month, friendlies matches, summer tours, charity line-ups, etc). What are your thoughts on this?

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