French football club, Paris Saint-Germain (PSG), has teamed with Socios.com to launch a token ecosystem.
The Fan Token Offering (FTO) is powered by sports blockchain venture chiliZ, which has the backing of the likes of crypto exchange Binance and which has raised $66 million in funding to date.
The FTO gives fans access to branded PSG club tokens which come with voting rights and also VIP status and/or rewards. Marc Armstrong, Chief Partnership Officer of PSG, says: “Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fan base.”
Fans can trade on socios.com but only against the chiliZ native token ($CHZ).