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Paris Saint-Germain to launch its own crypto

Paris Saint-Germain (PSG) announced plans to issue its own cryptocurrency to incentivize participation from fans worldwide.

The proprietary tokens could be issued as early as spring 2019, potentially making PSG the first football club anywhere to do so. Malta-based blockchain startup Socios will provide the technological basis for the Fan Token Offering. PSG announced a multi-year partnership with Socios.

The club’s chief partnership officer, Marc Armstrong, commented: "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."

PSG’s coin will allow fans owning tokens to vote and decide on less strategic matters, such as team jersey choices or opponents in friendly matches. Token ownership will further give fans access to more exclusive offers such as meeting with players or participating in certain matches.

By adopting blockchain as underlying issuance technology, PSG hopes to make the polling process safer and more transparent, with transactions being public.