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Crypto News: French Soccer Saint-Germain Football Club (PSG) Launches Its New Cryptocurrency

As per the latest crypto news, Paris Saint-Germain (PSG), a major French soccer team in the country’s top league, is preparing to issue its own cryptocurrency as a way to incentivize contribution from its fans around the world.

PSG, which claims protuberant players such as Brazil star Neymar, declared a multi-year partnership recently with a Malta-based blockchain startup called Socios. It will challenge on the technology for the so-called Fan Token Offering. PSG is at present eyeing a deadline of spring 2019 to begin issuing its proprietary tokens, making it possibly one of the first soccer clubs anywhere to do so. PSG has been the greatest tier of France’s soccer association and has been greeted as the country’s foremost team.

PSG’s collaboration with the platform will allow fans who hold the token to be able to vote for launch a Fan Token Offering (FTO) Token ownership will further give fans access to much more offers such as meeting with players or participating in certain matches, as per updated crypto news.

According to Chilliz CEO Alex Dreyfus, the platform was looking forward to collaborating with other top soccer clubs. He further stated that the platform eventually aims to involve many soccer fans of multiple high caliber soccer clubs worldwide. PSG is even following other European soccer clubs into accepting the idea of blockchain as well as the cryptocurrency, as reported by CCN.

In the month of August 2018, for marketing opportunities a worldwide investment platform eToro, especially for crypto assets and old-style monetary instruments, collaborated with seven Premier League clubs. The first in the game that will be paid with the help of Bitcoin. The deal was worth and projected around somewhere between £4 and £5 million, a spokesperson stated to Crypto Ground. The latest crypto news also revealed that PSG works and is controlled under Qatar state, an investment company, that holds the record for the uppermost transfer fee paid with the $263 million purchase of Brazilian football star Neymar from Barcelona in 2017.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

As a professional blogger and news writer, Akshada presents unique pieces that are logical, well-structured and appealing to the audience.

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