The other day the French club PSG declared that since 2019 it will issue the crypto currency. Why do Parisians need it and what advantages will the owners have?
So, PSG has signed the cooperation agreement with the company Socios, to be exact, with its subsidiary — Chiliz startup. Among investors of this company there are famous players of the crypto market, for example cryptocurrency exchange Binance. At the moment the project has managed to attract $66 million.
The issue of the Fan Token is planned in spring 2019 — Fan Token Offering(FTO). It is supposed that tokens of the football team can be purchased only for tokens of ChiliZ (CHZ).
How will it work?
The main idea of the project — tokens won’t be means of payment. Instead of this PSG will suggest fans to influence on a number of questions in club. Fundamentally, the block chain platform — Socios presupposes this fact. In Spain the fans who are considered as shareholders and owners of football clubs are called by this name. For example, Barcelona has more than 200 thousand such admirers. They pay annual contributions and influence the fate of the club: elect the president, approve projects of reconstruction of stadium and so on.
Tokens won’t be means of payment.
Parisians, of course, aren’t ready to provide such freedom of choice but have chosen their own way. Each owner of the FTO will be proposed to download the application by means of which the shareholder also will influence intra club life on phone.
So far it is supposed that the owners of FTO will be able to choose by vote music at stadium during the home games, color of team’s shirt on matches, choose rivals for preseason tournaments. The more tokens you have, the more powerful your voice is.
No. The club understands perfectly that the solution of minor questions will soon bore the fans therefore PSG and Socios are developing now a number of additional bonuses for the owners of FTO.
So, probably the holders of tokens will be able to visit open trainings of the team, to watch matches from the VIP box, to receive fan stuff as a gift. Everyone for certain will find for himself what he wants.
First, Socios will pay the French club about $3 million annually for five years. It is clear, that for such club as PSG these are trifles, but take care of the pence, the pounds will take care of themselves.
But what is more important is the fact that Paris understands that cooperation with crypto currency projects can attract the interest of fans from all over the world. Even fans of club who live for thousands of kilometers from Paris will be able to influence policy of PSG and to receive pleasant bonuses.
Fans of the club who live for thousands of kilometers from Paris will be able to influence policy of PSG and to receive pleasant bonuses.
PSG monitors over the innovations in the sphere of digital assets and wants to use opportunities which are opened up thanks to crypto currencies. This technology will considerably influence the general business strategy of the club and traditional models of interaction with fans” — has said the director of PSG on sponsor’s operations Mark Armstrong.
The project of Parisians has no analogs yet but the block chain gradually enters sports life. Through this technology UEFA is selling the football tickets, Sacramento Kings has already put the equipment for mining in the arena of the club and the players from foreign countries get their salary in bit coins. Now crypto currencies will help the clubs to attract the fans. So, the future belongs to them.