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Paris Saint-Germain (PSG) will become the first major football club to act as a blockchain protocol validator on the Chiliz blockchain.
This important step in blockchain participation is facilitated thanks to its collaboration with Socios.com, the official platform of its Fan Token. He camaraderie will leverage Chiliz's robust $1 billion SportFi ecosystem, known for its appeal to crypto-savvy sports enthusiasts and its ability to support a wide range of decentralized applications.
The Chiliz Chain, in particular, has facilitated the launch of more than 50 web3 projects, demonstrating the strength of its infrastructure and its attractiveness as a hub for leading web3 initiatives.
As a validator, PSG will contribute to the operational integrity, security and performance of the Chiliz Chain by participating in the blockchain consensus mechanism. This role expands PSG's involvement from mere token issuance to active participation and decision-making within the ecosystem, reinforcing its investment in digital innovation and fan engagement through web3 technologies.
PSG's efforts in the web3 space began with the launch of its Fan Token, making it the leader among European football clubs in embracing digital transformation. The club's web3 strategy, led by Pär Helgosson, director of web3, focuses on leveraging the PSG Fan Token to improve direct fan engagement and digital revenue generation.
“Our commitment is to build a more empowered and sustainable web3 ecosystem, leveraging the strong foundation of our existing relationship with Socios and Chiliz. “PSG is committed to fostering innovation and the club will continue to develop opportunities with other partners in this space.”
Pär Helgosson, web3 director of Paris Saint-Germain
Furthermore, in a bid to strengthen its digital economy, PSG has also committed to using all revenue generated from its role as a node validator for regular buybacks of PSG Fan Tokens on the public market. The initiative aims to reinvest in the supply of Fan Token, supporting a sustainable digital economy for the club and its web3-oriented fan base.
In addition, PSG and Chiliz will also jointly organize their first blockchain hackathon at the Parc Des Princes stadium in late summer 2024. This event is expected to bring together developers from France and around the world to create innovative products that take advantage of web3, the Chain Chiliz and PSG Fan Tokens.
The partnership with PSG follows Chiliz's recent integration with Rarible, marking a significant advancement in the space of nft marketplaces and digital collectibles. The collaboration allows developers to leverage the Rarible Protocol for the creation of custom nft marketplaces within the Chiliz Chain. Consequently, SportFi dapps, wallets and marketplaces gain instant access to essential information about nft ownership and provenance, substantially improving the user experience in the digital collectibles sector.
