Paris Saint-Germain (PSG) is stepping boldly into the world of blockchain technology, marking a historic moment as the first major football club to undertake the role of a blockchain protocol validator on the Chiliz network.
This groundbreaking move is made possible through PSG’s partnership with Socios.com, the official platform for its Fan Token, signaling a significant leap in the club’s engagement with digital innovations. By joining forces with Chiliz, PSG taps into the vast potential of the $1 billion SportFi ecosystem, renowned for its appeal to cryptocurrency enthusiasts and its ability to support diverse decentralized applications.
The Chiliz Chain, boasting the launch of over 50 web3 projects, stands as a testament to its robust infrastructure and its status as a prime hub for leading web3 initiatives.
Acting as a validator on the Chiliz Chain, PSG assumes a pivotal role in upholding the network’s operational integrity, security, and performance through active participation in its consensus mechanism. This move signifies PSG’s transition from merely issuing tokens to actively shaping and contributing to the blockchain ecosystem, underlining its commitment to digital innovation and enhanced fan engagement through web3 technologies.
Our commitment is to build a more empowered and sustainable web3 ecosystem, leveraging the solid foundation of our existing relationship with Socios and Chiliz. PSG is committed to fostering innovation, and the club will continue to develop opportunities with other partners in this space.
Pär Helgosson, head of web3 at Paris Saint-Germain
PSG’s foray into the web3 space commenced with the introduction of its Fan Token, positioning the club at the forefront of European football clubs embracing digital transformation. Spearheaded by Pär Helgosson, head of web3, PSG’s web3 strategy aims to leverage the PSG Fan Token for deeper fan interaction and increased digital revenue generation.
In a bid to bolster its digital economy, PSG has pledged to utilise all proceeds from its role as a node validator to conduct regular buy-backs of PSG Fan Tokens from the public market. This initiative is geared towards reinvesting in the Fan Token supply, thereby fostering a sustainable digital economy for the club and its web3-focused fan base.
Furthermore, PSG and Chiliz are gearing up to co-host their inaugural blockchain hackathon at the iconic Parc Des Princes stadium by the culmination of summer 2024. The event is anticipated to bring together developers from France and across the globe to ideate and create innovative solutions harnessing web3, the Chiliz Chain, and PSG Fan Tokens.
This collaboration between PSG and Chiliz follows closely on the heels of Chiliz’s integration with Rarible, marking a significant stride in the realm of NFT marketplaces and digital collectibles. The integration empowers developers to leverage the Rarible Protocol for establishing custom NFT marketplaces within the Chiliz Chain ecosystem, thereby enhancing user experience in the digital collectibles sector with improved access to crucial information on NFT ownership and provenance.
As PSG takes bold steps into blockchain technology, it sets a precedent for football clubs worldwide, ushering in a new era of digital innovation and fan engagement in the realm of sports.
