Football plays cryptocurrency
French football club Paris Saint-Germain is launching its own cryptocurrency. PSG will partner with Socios.com to create an offering that PSG fans will be able to buy and trade, as well as snag special rewards, content and ‘experiences’.
The club PSG says the move is part it of a wider strategy to use blockchain technology to strengthen its relationship with fans and boost business operations.
Brazil’s Avaí FC is also on the cryptocurrency trail, having partnered with blockchain-based sports investment outfit SportyCo and football investment firm Blackbridge Sports to raise $20m from an initial coin offering this autumn.
During the past summer, seven Premier League clubs signed marketing deals with cryptocurrency trading platform eToro, with the sponsorship money paid out in Bitcoin.
Arsenal also signed a sponsorship deal with US-based cryptocurrency outfit CashBet, while newly promoted Wolves inked an agreement with crypto platform CoinDeal.