French professional football club Paris Saint-Germain (PSG), owned by the Qatar Sports Investments, has just announced the launching of its crypto token on Ethereum blockchain network via its partnership with Chiliz, a crypto exchange for sports & entertainment company.
The football club declared the launch of the crypto token christened $PSG today, and it is designed to let fans vote in regards to matters relating to the club, Paris Saint-Germain has said via its official Twitter page.
The $PSG token which gives fans the ability to compete for unique experiences is only available for sale for a limited time, a translated statement of the football club confirms.
At the initial launch, 20 million $PSG token would be made available to fans at the rate of 2 Euros. Acquired $PSG Fan Tokens can only be used to vote on the application and cannot be spent.
The Paris St. Germain newly unveiled token is now available on Socios.com application, courtesy of Chiliz, a Malta-based company backing Socios app. Socios.com is being powered by Chiliz token ($CHZ) and both are Ethereum-based ERC20 utility tokens.
Les Fan Tokens du $PSG sont désormais en vente pour une durée limitée ! Ceux-ci vous permettent de voter à des sondages liés à votre club et de rivaliser pour vivre des expériences uniques.
Découvrez le premier sondage en téléchargeant l'application ici: https://t.co/WK8glt7Nc4
— Paris Saint-Germain (@PSG_inside) January 28, 2020
Socios.com is a blockchain sports fan startup company that established an application for football fans to allow them earn rewards by interacting with the club. The application also offers fans the ability to speak on their respective club related matters.
The Chief Partnership officer at Paris Saint-Germain, Marc Armstrong described the partnership as one that brings a meaningful moment to the club.
“Thanks to the launch of PSG Fan Token, our fans will now be able to drive important and symbolic decisions for the Club. As of today, the Club reinforce its proximity with fans, which is one of our main values,” Marc stated.
On Socios.com, fans purchase tokens in a Pokemon Go styled gamification.
While Paris St. Germain’s token is just coming fresh, a number of top clubs in Europe have signed a deal with Chiliz to launch their token. Atletico Madrid ($ATM), West Ham United ($WHU), Juventus ($JUV), and Galatasaray ($GAL) are among clubs that have launched their token on Socios.com app
Football clubs across the globe are now leveraging Socios.com for digital transformation through blockchain technology.
Few days back, Newslogical revealed that Chiliz.net would be the world’s first cryptocurrency exchange where sports and entertainment tokens are to be traded.
The innovation, according to the statement of the CEO of Chiliz, Alexandre Dreyfus, would be the earliest mobile and desktop crypto exchange for sports and entertainment products.