PSG buy into Socios.com for fan token offering

French soccer giants tap blockchain platform for long-term cryptocurrency strategy.

PSG buy into Socios.com for fan token offering

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French soccer champions Paris Saint-German have become the latest sports team to tap into the blockchain boom after announcing Socios.com as their official branded cryptocurrency partner.

The multi-year strategic tie-up will see the company work with the Ligue 1 club to develop their blockchain strategy as a means to enhance and evolve their fan engagement.

As part of the deal, which sees PSG become the first soccer team to join the Socios.com platform, the two parties will collaborate to develop a fan token offering (FTO) for the club’s supporters.

PSG’s fan token will be made available on the Socios.com platform, allowing fans to engage with the seven-time Ligue 1 champions through mobile voting and polling platforms. Token owners will also gain access to exclusive fan rewards, content and experiences.

“As well as being a leader on the football pitch, Paris Saint-Germain is also a digital pioneer and this demonstrates its leadership in innovation,” said Socios.com founder and chief executive Alexandre Dreyfus. “We admire the club’s vision in being the first club in world football to adopt this new technology and set a new standard in fan engagement.”

PSG also praised the partnership, saying it forms part of their broader strategy to integrate blockchain technology in order to strengthen their relationship with fans and enhance their business operations.

“Always at the forefront of digital innovation, Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide,” added Marc Armstrong, PSG’s chief partnership officer. “This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fanbase.”

PSG are one of a number of soccer clubs that have recently bought into blockchain technology. Premier League side Arsenal named CashBet as their official blockchain partner back in January, while Leicester City, another top-tier English team, recently signed a deal with FansUnite.

Elsewhere, the players’ unions for two major US sports leagues have penned blockchain-based deals. The Major League Baseball Players Association (MLBPA) partnered with Seattle-based startup Player Tokens in August to create a crypto-collectibles offering, while the National Football League Players Association (NFLPA) acquired a minority stake in live-streaming platform SportsCastr in the same month.