Paris Saint-Germain joins Chiliz Chain as validator

Paris Saint-Germain plans to reinvest all validator revenue into purchasing $PSG tokens

Football club Paris Saint-Germain has made a groundbreaking move in the world of web3 by joining the Chiliz Chain validator network, marking the first time a sports team has taken on such a role within a blockchain company.

This development signifies Paris Saint-Germain's commitment to embracing the future of web3 sports and actively shaping it to enhance its relationship with fans through digital experiences.

Blockchain validators, like Paris Saint-Germain now, are responsible for ensuring the integrity, security, and smooth functioning of a network, and in return, they receive compensation.

Paris Saint-Germain has announced its intention to reinvest all revenue earned as a validator into buying back Paris Saint-Germain Fan Tokens. This strategic move aims to foster a self-sustaining digital economy within the club’s fan community.

In addition to its validator role, Paris Saint-Germain is set to pioneer stadium-hosted blockchain hackathons at Parc Des Princes, aligning with its strategy to promote web3 innovation and engage with the digital fan community.

The Chiliz Chain, which powers the world’s largest SportFi ecosystem, provides advanced infrastructure for decentralized applications and has become a launchpad for over 50 web3 projects.

Paris Saint-Germain's partnership with Chiliz Chain opens up new possibilities for collaboration between sports teams and blockchain companies, an area previously dominated by technology and gaming firms.

Alexandre Dreyfus, CEO of Chiliz and Socios.com, expressed excitement about deepening the relationship with Paris Saint-Germain, seeing it as a significant milestone in the adoption of web3 by fans, clubs, and leagues. He believes this move will inspire other clubs to join the innovative journey towards web3 sports.

Similarly, Pär Helgosson, head of web3 at Paris Saint-Germain, emphasized the club's proactive approach in designing the future of web3 sports to create more direct and meaningful interactions with fans.

Helgosson envisions optimizing future engagements for network effects, maximizing the value and revenue for all stakeholders within the digital economy.

Paris Saint-Germain's foray into blockchain validation signifies a broader trend of sports organizations exploring new avenues for fan engagement and revenue generation in the digital age.

A recent independent study revealed that Fan Tokens, pioneered by Socios.com, significantly enhance fan attachment to sports teams and foster a sense of exclusivity and identity among supporters.

Utilizing blockchain technology, Fan Tokens facilitate democratic communication between fans and teams, empowering supporters to actively participate in decision-making processes.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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