According to today’s press release, Paris Saint-Germain (PSG), a French top-league professional football club and the country’s most popular team, has successfully collaborated with tokenization platform Socios.com to launch a token ecosystem.

Socios.com represents itself a Malta-based fan marketplace, which leverages blockchain technology to engage and monetize fans globally. The platform is backed up by a sports blockchain venture chiliZ, one of Binance coin investors, which boasts to have raised $66 million in funding.

Now, after the official partnership announcement, PSG will be able to launch its so-called Fan Token Offering (FTO) with the help of Socios.com. The FTO will let football fans to take part in choosing the jersey color, stadium music, and logo, as well as to vote for certain sports aspects, such as MVP, Player of the Match or Month, friendlies matches, summer tours, charity line-ups, etc.

The FTO represents a limited token mechanism. It is focused on incentivizing and monetizing fan engagement and experiences via crypto without tokenizing the club’s existing corporate structure.

As Marc Armstrong, Chief Partnership Officer of PSG, has commented:

“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 fan base.”

PSG fan tokens will be tradable within the Socios.com platform only against $CHZ, the chiliZ native token. The exact rate has not been revealed yet, neither has the exact date of the upcoming FTO. Reportedly, it is set to be held before the start of the coming soccer season.

According to Alexandre Dreyfus, the football club’s CEO, PSG’s initiative to join the blockchain movement can be a good opportunity for football fans to get engaged into the crypto world. The PSG’s step forward in embracing the idea of blockchain and cryptocurrency follows the examples of some other European soccer clubs.

Last month was successful for seven major clubs in the U.K.’s Premier League, including Newcastle United, Crystal Palace, and Leicester City, which signed up the collaboration with online investment firm eToro to allow sponsorship payments in Bitcoin, as well as for the Union of European Football Associations (UEFA), which officially completed the trial of a blockchain-based ticketing application for a match between two top Spanish clubs.

The post Paris Saint-Germain Soccer Club Partners with Socios.com to Launch Fan Token appeared first on CoinSpeaker.

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