Major French Soccer Club Release Their Own Cryptocurrency: But It’s Not What You Expect 2019

Neymar psg

A major French soccer club might have just found the perfect way to incentivize fan participation. Paris Saint-Germain (PSG) a team for one of the countries top soccer leagues have decided to issue their own cryptocurrency.

But it’s probably not something you’d expect.

Fan Token Offering (FTO)?

This move could make PSG one of the first professional soccer clubs in the world to take a leap into the digitized token realm. As reported by presse-citron.net, the team should start issuing their proprietary tokens as early as spring 2019.

The French club which features a plethora of all-star players, including the likes of Brazilian star Neymar has just announced the signing of a multi-year partnership with Socios a Malta-based blockchain startup. Socios will be playing a key part in realizing and implementing the so-called “Fan Token Offering” or “FTO”.

Not Something You Might Expect

While exciting in itself, PSG’s new coin will not act as a digital currency and/or a store value. Rather, its use-cases will be much more down to earth – at least for now.

Akin to something out of an online video game where players can customize their players. According to the report, “PSG coin” holders will be able to vote and decide on less strategic matters such as the club’s jersey colors, or access to other exclusive offers such as meeting their favorite player.

While it’s not exactly a digital currency, a secure and transparent blockchain-based polling system is definitely an exciting development for overall crypto space adoption as a whole.

Paris Saint-Germain chief partnership officer Marc Armstrong has 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 fanbase.”

Overall, PSG has taken a huge step towards embracing cryptocurrency and blockchain which could open the flood-gates for other soccer clubs from around the world to take part in the growth of global cryptocurrency adoption.

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