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Paris Saint-Germain Joins Chiliz Network as First Football Club Validator

Paris Saint-Germain (PSG) is poised to make history as the inaugural major football club to serve as a blockchain protocol validator on the Chiliz blockchain.

This groundbreaking move in blockchain integration is made possible through PSG’s partnership with Socios.com, the official platform for its Fan Token. The collaboration will harness the robust $1 billion SportFi ecosystem of Chiliz, renowned for its appeal to crypto-savvy sports enthusiasts and its capability to support various decentralized applications.

Chiliz Chain, in particular, has been instrumental in launching over 50 web3 projects, showcasing the strength of its infrastructure and its position as a focal point for leading web3 initiatives.

As a validator, PSG will play a vital role in upholding the operational integrity, security, and performance of the Chiliz Chain by actively participating in the blockchain’s consensus mechanism. This expanded engagement signifies PSG’s transition from merely issuing tokens to actively contributing to the ecosystem’s decision-making processes, underscoring its commitment to digital innovation and enhanced fan engagement through web3 technologies.

PSG’s venture into the web3 space commenced with the introduction of its Fan Token, positioning the club as a pioneer among European football clubs in embracing digital transformation. Spearheaded by Pär Helgosson, head of web3 at PSG, the club’s web3 strategy aims to leverage the PSG Fan Token to deepen direct fan engagement and drive digital revenue growth.

“Our goal is to cultivate a more empowered and sustainable web3 ecosystem, building upon our established partnership with Socios and Chiliz. PSG remains dedicated to fostering innovation, and we will continue to explore opportunities with other partners in this domain,” stated Pär Helgosson.

In a bid to fortify its digital economy, PSG has committed to utilizing all revenue generated from its validator role to conduct regular buy-backs of PSG Fan Tokens from the public market. This initiative seeks to reinvest in the Fan Token supply, bolstering a sustainable digital economy for the club and its web3-focused fanbase.

Furthermore, PSG and Chiliz are slated to co-host their inaugural blockchain hackathon at the iconic Parc Des Princes stadium by the conclusion of summer 2024. This event is anticipated to unite developers from France and beyond to ideate and create innovative products leveraging web3, the Chiliz Chain, and PSG Fan Tokens.

The collaboration with PSG follows Chiliz’s recent integration with Rarible, marking a significant stride in the realm of NFT marketplaces and digital collectibles. This collaboration empowers developers to utilize the Rarible Protocol to establish custom NFT marketplaces within the Chiliz Chain, enriching the user experience and accessibility of digital collectibles within SportFi dapps, wallets, and marketplaces.

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