RATE Group | Major French Soccer Club Plans to Launch Its Own Cryptocurrency
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Major French Soccer Club Plans to Launch Its Own Cryptocurrency

11 Sep Major French Soccer Club Plans to Launch Its Own Cryptocurrency

Posted at 15:16h in Cryptocurrency News by

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Paris Saint-Germain (PSG), a major French soccer team in the country’s top league, is planning to issue its own cryptocurrency as a way to incentivize participation from its fans around the world.

PSG, which boasts prominent players including Brazil star Neymar, announced a multi-year partnership on Tuesday with a Malta-based blockchain startup called Socios that will tackle on the technology for the so-called Fan Token Offering.

According to a French news site, PSG is now eyeing a deadline of spring 2019 to start issuing its proprietary tokens, making it potentially one of the first soccer clubs anywhere to do so.

Rather than a monetary role for PSG’s coin however, the goal is to allow fans who hold the token to be able to vote for and decide on less strategic matters, such as team jersey choices or opponents in friendly matches, the report said.

Token ownership will further give fans access to more exclusive offers such as meeting with players or participating in certain…

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