In a pioneering move in the world of cryptocurrencies, Paris Saint-Germain, one of the biggest in French football, announced that it will make history as the first football club to become a network validator on the Chiliz Chain blockchain.
This platform is known for hosting PSG fan tokens, a mechanism that allows fans to access exclusive club-related memorabilia and experiences. PSG’s decision not only reinforces its leadership position in Ligue 1, but also in the digital field, by using the revenue generated to regularly repurchase its fan tokens.
The importance of a club of PSG’s caliber becoming a blockchain validator is monumental. Validators play a crucial role in the security and operation of blockchain networks, verifying transactions and authorizing smart contracts. This is the first time that a sports entity has assumed such responsibility, marking a new era in the interaction between sports and the world of cryptocurrencies. The PSG fan token, launched in September 2018, is now worth US$28 million, according to recent data. With a buyback program in place, PSG seeks to not only strengthen the value of its tokens but also foster a robust and sustainable digital economy around them.
Pär Helgosson, Head of Web3 at Paris Saint-Germain, shared his vision, stating: “We will optimize our future engagements for network effects, amplifying the value and revenue that each stakeholder can generate and experience in this new digital economy.” This effort places PSG alongside other world football giants such as FC Barcelona, Manchester City, Juventus, Arsenal, Inter Milan and AC Milan, who have also launched tokens on Chiliz, but without taking on the role of validators.
This development is not only a milestone for Paris Saint-Germain and its fans, but also a significant sign of the growing fusion between sports and blockchain technology. As more sports clubs and organizations explore cryptocurrencies and blockchain, PSG is leading the way, setting a new standard for engagement and innovation.
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/paris-saint-germain-inova-no-mundo-cripto-como-primeiro-clube-de-futebol-validador-de-blockchain/
