Paris Soccer Team Shows Tokenization is the Future of Loyalty Programs

ICOBox Head of International PR Dima Zaitsev on PSG's move to use tokens to get fans' input on club affairs

Paris Saint-Germain (PSG), one of the world's richest sports teams, is issuing its own cryptocurrency to tokenize its fans' support around the world.

PSG, which has deep enough pockets to pay Brazilian star Neymar €865,000 per week, announced a partnership with Socios, a company claiming to be building a "Fan Token Offering."

PSG's token aims to allow fans to vote for and decide minor matters such as team jersey choices or opponents in friendly matches, the report said.

Token ownership can also give fans access to exclusive offers such as meetings with players or other VIP benefits.

Tokenization is the future of loyalty and engagement programs. It was many decades ago when airlines pioneered the idea of "air miles" but now tokenization creates vast new possibilities for getting fans to buy into the success of their favorite organizations. What PSG is doing is democratizing sport, and I'm sure many other teams will follow in their footsteps.
Online investment firm eToro has signed up seven clubs in the British Premier League to allow sponsorship payments in bitcoin, showing that the trend of cryptocurrencies and proprietary tokens in sport extends far beyond the PSG deal.