French giants and top-flight club Paris Saint-Germain (PSG) are set to become the first football club in the world to launch their own cryptocurrency after announcing a multi-year partnership with Socios.com.
The blockchain platform will become the official cryptocurrency partner of the Ligue 1 champions as the club becomes the latest sports team to tap into blockchain market. PSG become the first soccer team to join the Socios.com platform.
The deal will see the company work with the Ligue 1 club to develop their blockchain strategy as a means to enhance and evolve their fan engagement. The two parties will collaborate to develop a fan token offering (FTO) for the club’s supporters.
PSG’s fan token will be made available on the Socios.com platform, allowing fans to engage with the seven-time Ligue 1 champions through mobile voting and polling platforms. Token owners will also gain access to exclusive fan rewards, content and experiences.
The club has said that the alliance with Socios.com forms the part of their broader strategy to integrate blockchain technology in order to strengthen their relationship with fans and enhance their business operations.
Socios.com founder and chief executive Alexandre Dreyfus, said, “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.”
Marc Armstrong, PSG’s chief partnership officer, said, “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.”
Premier League clubs Arsenal and Leicester City are among the other European clubs that have tapped into the recent global blockchain boom. Arsenal named CashBet as their official blockchain partner back in January, while Leicester City recently signed a deal with FansUnite.