French football club Paris Saint-Germain (PSG), one of the richest in the world, will launch a cryptocurrency to encourage its fans.
The board of PSG has partnered with the startup blockchain 'Socios' that will offer to their fans "CHZ" tokens by chiliZ. Although the launch date and token price have not yet been revealed, the project must begin before the next football season, according to CCN.
'Socios' is a platform specializing in large projects. The company already has works with clubs like Real Madrid and Barcelona.
ChiliZ is backed by big names in the crypto-currency market, including investors linked to brokerage Binance, according to CCN anonymous sources, chiliZ projects have already raised $ 66 million in funding.
Alex Dreyfus, CEO of chiliZ, and someone responsible for taking Binance to Malta, commented on the project and spoke about the moment of great anxiety to be able to contribute to the clubs.
"We are concentrating on integrating the biggest clubs in Europe. In the coming weeks we will announce other great clubs that will also join our platform. Besides France, our priority is the clubs of the United Kingdom, Italy, Spain and Germany, "Dreyfus told to CCN.
He also noted that the strategy does not symbolize the Club existing corporate structure and that the focus is the engagement of football fans via crypto-coins.
PSG's partnerships director, Marc Armstrong, also spoke.
"Paris Saint-Germain is determined to take advantage of the opportunities that cryptocurrency can offer. This revolutionary technology will have a major impact on the club's overall business strategy and the way we engage with our fan base. "
How will it work
According to the CCN, holders of the CHZ token that will be distributed through an FTO (Fan Token Offering) will have VIP status at the club.
They will have the right to vote when choosing the color of the uniform or the music on the day of departure. They will also benefit from free admission, friendly tours, summer tours and charity events.
