17 September 2018

PSG launches cryptocurrency


Michael A. Rueda
Partner | Head of US Sports and Entertainment | US

French soccer club Paris Saint-Germain is launching their own cryptocurrency in partnership with blockchain company Socios.com. PSG fans will be able to purchase tokens, which allow them to vote in online club surveys. Club branded fan tokens are the newest development bringing blockchain technology to the masses. PSG fans who purchase the tokens will get voting rights and access to VIP level club rewards and fan engagement opportunities. The venture has raised more than $66 million in financing to date. The price of the tokens has yet to be determined, but the goal is to make them accessible to as many people as possible.

For more information see https://punchng.com/psg-announce-deal-to-launch-cryptocurrency/

This article was written with contributions from Tim Piscatelli.

Michael A. Rueda Partner | Head of US Sports and Entertainment | New York

International sports law and business blog

Updates on sports business and legal news from around the world.

View