From pitch to blockchain: partnership between PSG and Chiliz
Key Takeaways
- Paris Saint-Germain has become the first major football club to act as a validator for Chiliz’s blockchain protocol, with the aim of creating a self-sustaining digital economy.
- The club plans to use validator revenue to buy back PSG Fan Tokens to strengthen its digital ecosystem and fan engagement.
- PSG and Chiliz are organizing a blockchain hackathon to encourage the development of decentralized applications using PSG Fan Tokens and to further unite the sports and blockchain communities.
Paris Saint-Germain (PSG), The most successful French professional football club, The Chiliz Chain network has announced a new role as a blockchain validator. Host of Paris Saint-Germain Fan Tokens (PSG).
This strategic move Set to redefine the club’s relationship with its fan base By leveraging the revenue generated to repurchase and position Fan Tokens on a regular basis, PSG is the first sports club to actively participate as a blockchain validator.
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Validators play a critical role in the blockchain ecosystem by managing nodes, verifying transactions, and approving smart contracts to ensure network security. In return, they earn a profit. PSG plans to reinvest in the digital economy by purchasing back PSG Fan Tokens.
Pär Helgosson, Head of Web3 at PSG, emphasized:
Together, we aim to build a sustainable tokenomics model where, due to our role as node validators, clubs can use their profits to buy back Fan Tokens and reinvest them back into the Fan Ecosystem.
What the club decided to start with buyback program It is expected to revive Fan Token holdings. We drive the creation of a powerful digital economy centered around these tokens.
Since its launch in September 2018, PSG Fan Tokens have been quite successful, boasting a market capitalization of $29 million.
The plan isn’t just about improving the club’s digital assets. PSG is also exploring ways to foster innovation and community engagement through technology. for teeth, The club has announced plans to host a hackathon at the iconic Parc des Princes stadium in collaboration with Chiliz in the coming months.
The purpose of this event is Bringing together developers and technology enthusiasts to explore new possibilities for decentralized applications and products that integrate PSG Fan Tokens. It further solidifies the club’s commitment to pioneering the Web3 space.
With this strategic move, PSG not only solidifies its leadership in digital innovation within the sports industry, but also sets a new standard for how sports clubs can leverage blockchain technology and cryptocurrencies to benefit their fan base and the wider digital economy. Present.
The connection between the world of football and cryptocurrency was also marked by the partnership between Cristiano Ronaldo and Binance in 2023.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis comparing the differences between Western capitalism in the United States and forms of collective capitalism in Japan from 1945 to 2020.
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