blockchain summit Paris Saint-Germain plans launch of cryptocurrency

Paris Saint-Germain plans launch of cryptocurrency

The French soccer club is looking to release tokens in spring 2019

Katy Micallef

Oct 2, 2018

French football club Paris Saint-Germain, has announced its intentions to issue its own exclusive cryptocurrency. The club is considering spring 2019 as a possible launch date for its tokens.

PSG, which is home to star players, such as Brazilian legend Neymar, hopes to boost support from its fans across the globe. The club reported a multi-year association on Tuesday with Malta-based blockchain startup – Socios. The partnership will handle the innovation for the alleged Fan Token Offering.

Fans in possession of the token will have the opportunity to vote in favour of and settle on issues such as team jersey decisions or adversaries in friendly matches as well as meet with players and take part in specific matches.

PSG’s main association officer Marc Armstrong said, “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.”

Several big clubs in the U.K’s. Premier League including Newcastle United, Crystal Palace, and Leicester City have recently signed a deal with online investment firm eToro to permit sponsorship payments in bitcoin.

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