What Is Paris Saint-Germain Fan Token (PSG)?

In 2018, Paris Saint-Germain entered the blockchain world and became the first sports franchise to partner with Socios.com – an app that is built on the Chiliz (CHZ) blockchain. Moreover, club officials signed a multi-year partnership with the platform.

Previously, fans were just spectators who supported and cheered for their favorite football teams. However, blockchain technology and cryptocurrency began to be closely introduced into the sports industry, which made it easier for fans to participate and support their club through real interactions. Above all, fans now have the opportunity to directly influence the decisions and activities of sports clubs.

This progress is largely due to the introduction of fan tokens, which give their holders some rights and club benefits. The Paris Saint-Germain Fan Token is no exception – PSG is the official cryptocurrency of one of the most successful football clubs in France and the world. It is designed to improve the interaction and engagement of fans with the club.

$PSG was launched in January 2020. PSG token holders take part in polls (run by the team), influence the life of the club, receive exclusive gifts and have more free access to interact with players. The growth and development of the project depends on various factors: announcements, new technological solutions, crypto environment, legal regulations and, clearly, the fans of Paris Saint-Germain.

Who Are the Founders of Paris Saint-Germain (PSG) Fan Token?

Established in 1970, Paris Saint-Germain is the most awarded football club in the country. In 1974, the club got back into France's Ligue 1, and in the first ten years of its existence, Paris Saint-Germain won the French Cup twice – in 1982 and 1983. Currently, the team has 45 official titles won. PSG is nine times champion of France (Ligue 1), won the French Cup fourteen times and the French League Cup nine times. After the takeover by Qatar Sports Investments, PSG is the wealthiest French club and the world’s ninth most valuable club.

Paris Saint-Germain Fan Token (PSG) was launched in early 2020 on Chiliz, the world's leading sports and entertainment fintech blockchain service provider. In 2018, Paris Saint-Germain announced a partnership with Socios.com and embarked on a productive collaboration. Socios.com is an app powered by Chiliz designed to engage and reward sports fans, available for iOS and Android. Alexandre Dreyfus (CEO of Chiliz and Socios.com) and Marc Armstrong (Chief Partnerships Officer of Paris Saint-Germain) are responsible for this partnership.

Alexandre Dreyfus is a skilled web entrepreneur with over 20 years of digital experience. In the 1990s, he developed an interactive travel guide – Webcity, and later founded the rather successful online poker projects Winamax and Chilipoker in the 2000s. In 2013, he became an owner of the Global Poker Index and The Hendon Mob. In 2017, Dreyfus founded Chiliz, a digital currency for sports & entertainment platforms. And in 2018, Socios.com was born, with the goal of providing football and sports clubs with an opportunity to monetize their fan bases by introducing blockchain technology.

What Makes Paris Saint-Germain Fan Token (PSG) Unique?

Paris Saint-Germain (PSG) token is a tokenized share of influence on club decisions, various rights, rewards and benefits for PSG holders. For example, choosing a message for the captain's armband through a vote, watching a match in the VIP zone, visiting the player area in the football stadium, and receiving discounts on club merchandise.

PSG is primarily a fan token – a digital asset that represents the voting power of its holder. The tokens remain available as long as the Paris Saint-Germain club is listed on the Socios.com platform. PSG can also be traded on the app's marketplace.

Like other fan tokens on the Chiliz blockchain, PSG has an initial binding to the platform's native token – CHZ, which was defined before the launch of FTO (Fan Token Offering) on Socios.com. Thus, the price of the CHZ and the growth of Chiliz may affect the price of PSG as well.

The main features of the PSG token include: participating in the decision-making process through voting in polls just by holding PSG tokens; distribution of awards for taking part in games, contests and quizzes on Socios.com; fan-communication with each other on Socios.com; obtaining bonuses, cashback rewards and prizes from a football club in exchange for participating in various events held by the club.

Paris Saint-Germain, Chiliz and Socios plan to introduce an additional set of features in the future that will provide PSG holders with the following options: purchase of VIP goods and services for PSG; integration of PSG access into partner applications; earning bonus points for participating in club processes; PSG staking for NFT rewards; implementation of a game utility and utility in the real world – NFT for blockchain-based games and NFT with ownership of real assets.

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How Many PSG Coins Are There in Circulation?

Paris Saint-Germain Fan Token exists on the Chiliz Chain (which runs as a Proof-of-Authority sidechain on Ethereum) with a total supply of 20,000,000 coins.

PSG is a utility token that Paris Saint-Germain fans can use to influence club decisions via the Socios app, a convenient platform for both fan engagement and team engagement. PSG is a "club card" that allows holders to compete for awards, recognition from other members of the club and multiple perks.

PSG was issued as part of a Fan Token Offering (FTO) and the token is used for governance, staking and earning rewards.

How Is Paris Saint-Germain Fan Token Secured?

Socios.com serves as a liaison between the football club and its fanbase, providing revenue streams that are digital, secure and transparent.

Chiliz is based on smart contracts on the Ethereum blockchain and a proprietary crowd control mechanism, so fans are in a protected environment and vote only in publicly audited polls. CHZ is a ERC-20 and BEP2 token that has been audited by Certik.

Where Can You Buy Paris Saint-Germain Fan Token (PSG)?

As of September 2021, Paris Saint-Germain Fan Token (PSG) can be bought on major exchanges, among them: Binance, Gate.io, Paribu, Upbit, AAX, Pionex, BKEX, MEXC, ZT, Chiliz and HitBTC.

However, like many fan tokens on Socios.com, PSG can be obtained in alternative ways as well. For example, when fans participate in games and use platform applications, they hunt for tokens and earn them as a reward for interacting with the team.

Cryptocurrency newbie? You can read more about how to enter the market and how to buy BTC, PSG or any other token in CoinMarketCap education portal — Alexandria.

Paris Saint-Germain Fan Token PSG

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