Paris Saint-Germain has announced a multi-year agreement with blockchain platform Socios.com. The partnership aims to increase fan engagement by not just offering unique experiences, but also by giving them opportunities to vote on decisions the club takes.
Socios.com becomes PSG’s “Official Branded Cryptocurrency Partner” as part of the deal. According to an official press release, the company will help the club develop its blockchain strategy, with an emphasis on fan engagement. PSG has plans to release its own Fan Token Offering cryptocurrency. FTO owners will be granted access to exclusive fan rewards, content, and experiences.
“Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide,” said Marc Armstrong, PSG’s Chief Partnership Officer, in the press release. “This revolutionary technology will have an important impact on the Club’s overall business strategy and the way we engage with our fanbase.”
The Socios platform hasn’t been formally launched yet, and the company is hoping to add further soccer clubs to its roster. The Spanish word “socio” roughly translates to “partner,” and the ability for fans to have a say in team decisions is likely inspired by the fan-owned socio model of FC Barcelona.
“We are delighted and very proud to have signed Paris Saint-Germain as our first club to work on the evolution of its fan engagement strategy through the Socios.com blockchain platform,” said Alexandre Dreyfus, Founder & CEO of Socios, in the press release. “Socios.com will create a new connection between Paris Saint-Germain and its global fanbase, helping the club to integrate blockchain technology as part of its fan engagement strategy.”
SportTechie Takeaway
In addition to increasing fan engagement, blockchain technology allows teams and venues to absorb consumer data that’s exchanged through the use of a mobile device. The technology also has the potential to minimize the risk of fraud that comes with digital transactions. In July, the NFLPA purchased a minority stake in SportsCaster, blockchain-powered social streaming platform. The NBA’s Dallas Mavericks also plan to accept cryptocurrency for tickets and merchandise this coming season.