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To learn more about this project, check out our deep dive of Paris Saint-Germain Token.
What are Fan tokens?
Fan Tokens allow fans across multiple sports verticals to exercise their share of influence within their favourite teams/leagues/clubs. Through Socios.com, fans empowered to participate in certain club decisions, for example, choosing a goal celebration song in a football stadium, choosing which fighters should go head to head in MMA and more. Thanks to Fan Tokens, holders receive access to once in a lifetime experiences such as player meet and greets, training day events & much much more.
The growing list of partnerships launching their Fan Tokens on the Socios.com platform include some of the biggest sporting organizations in the world such as FC Barcelona, Inter Milan, AC Milan, Manchester City, UFC, ROUSH Fenway Racing, Aston Martin, just to name a few.
How do Fan tokens work?
Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain that serves as the digital currency for the Chiliz and Socios.com platform. In launching their platform, alongside other sports blockchain ventures, a new category of token has emerged — the Fan Token. Once onboard the Socios.com platform, yet to-be-announced club partners host what has been called a Fan Token Offering (FTO). Fans must purchase $CHZ via a cryptocurrency exchange in order to acquire Fan Tokens. These tokens — which are specific to a team or club — are a finite, digital asset that provide access to an encrypted ledger of voting and membership rights ownership.
What is Chiliz Chain?
Fan Tokens are minted on an EVM compatiable permissioned sidechain called Chiliz Chain. Chiliz Chain does not currently require any transaction fee, making the sending and receiving of Fan Tokens fast and inexpensive.
Chiliz have future plans to upgrade the Chiliz Chain to position themselves as a leader in sports blockchain space, potentially making way for the minting of NFTs, staking & much more.
About Paris-Saint Germain
Paris Saint-Germain Football Club commonly referred to as Paris Saint-Germain, PSG, Paris or Paris SG, is a professional football club based in Paris, France. They compete in Ligue 1, the top division of French football. France’s most successful club, they have won over 40 official honours, including nine league titles and one major European trophy. Their home ground is the Parc des Princes.
Founded in 1970, the Parisians won their first major honour, the French Cup, in 1982 and their first Ligue 1 title in 1986. The 1990s was among the most successful periods in PSG’s history; they claimed a second league, three French Cups, two French League Cups, two French Super Cups and the UEFA Cup Winners’ Cup in 1996. After suffering a decline in fortunes during the 2000s, the Red and Blues have enjoyed a revival since 2011 with increased financial backing, achieving unparalleled dominance in domestic competitions, winning seven league titles and twenty national cups. PSG have also become a regular feature in the UEFA Champions League, reaching their first final in 2020.
PSG have the most consecutive seasons playing in France’s top flight and are one of two French clubs to have won a major European title. They are the most popular football club in France and one of the most widely supported teams in the world. PSG’s home kit colours are red, blue, and white, and their crest features the Eiffel Tower and a fleur de lys. PSG have a longstanding rivalry with Olympique de Marseille; the duo contest French football’s most notorious match, Le Classique.