The Paris Saint-Germain Fan Token (PSG) is a cryptocurrency that enables football fans to participate in the life of the Paris Saint-Germain football club. Owners of this crypto can use applications and services of the Socios platform for this purpose. In order to influence the decisions of the club, fans can use smart contracts in various polls, which are published by the football club. However, Paris Saint-Germain is obliged to act on the results of such surveys.
Standard PSG Fan Tokens are not NFTs and do not differ from each other. However, Paris Saint-Germain allows PSG holders to participate in the NFT draw and get tickets for matches, collectible items, invitations to events, excursions and meetings with players, virtual badges. Thus, the main goal of creating such tokens is to bring sports events to a new level and expand the interaction between teams and fans.
PSG is launched on Chiliz Chain, which is a sidechain of the Ethereum network that uses the PoA (Proof of Authority) algorithm to confirm transactions. In the near future, the Socios platform plans to implement PSG token staking. In the meantime, users can get this cryptocurrency on exchanges or use token hunting.
Fan Token is a relatively new direction of cryptocurrency development that appeared several years ago. French football club Paris Saint-Germain entered the digital age and issued its own tokens, with the Socios platform as the intermediary between fans and the club. The football club announced the launch of its own cryptocurrency in January 2020. Thus, it became one of the first to issue fan tokens.
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