Paris Saint-Germain (PSG) has taken a pioneering role in the sports world by becoming the first sports club to become an official validator on the Chiliz blockchain. This significant development underlines PSG’s commitment to digital innovation and marks a new chapter in the integration between sport and web3 technology.
The move comes shortly after the announcement of a strategic agreement between Chiliz (CHZ) and the South Korean premier league, highlighting the growing influence of blockchain in the sports sector.
Creating a self-sustaining digital economy
PSG and Chiliz, in partnership with Socios.com, aim to create a self-sustaining digital economy that not only increases fan engagement but also drives innovation within the sporting community. By joining the Chiliz network as an official validator, PSG aims to take advantage of the blockchain’s advanced infrastructure to strengthen its digital ecosystem and provide unique experiences for its supporters.
Chiliz, known for its $1 billion SportFi ecosystem, attracts crypto-enthusiastic sports fans and offers support for a wide range of decentralized applications. With more than fifty web3 projects already launched on the Chiliz Chain, the platform is demonstrating its strength and attractiveness for leading projects within the web3 space.
As a validator, PSG now plays a vital role in maintaining the integrity and security of the Chiliz network, being responsible for verifying transactions and authorizing smart contracts. This active involvement of PSG within the web3 ecosystem sets a standard for other sports clubs to follow.
Redemption of PSG Fan Tokens
In a notable move, PSG has committed to reinvesting all revenue earned as a validator into buying back $PSG Fan Tokens, with the aim of strengthening the club’s digital economy and deepening its bond with its supporters.
Furthermore, PSG and Chiliz will host blockchain hackathons at the Parc Des Princes Stadium, furthering innovation in web3 and the engagement of the digital fan community.
Spearheaded by Socios.com, Chiliz has created a global community of more than two million users, making it the largest Web3 consumer product outside of financial trading.
The collaboration between leading sports clubs such as PSG, FC Barcelona and Juventus and Chiliz highlights Chiliz’s leading role in the adoption of blockchain technology within the sports industry. PSG’s entry as an official validator on the Chiliz Chain opens the doors to an era of innovation and collaboration in sports blockchain technology, with the ambition to redefine fan engagement and build a stronger, more sustainable web3 ecosystem for its supporters.
Source: https://newsbit.nl/paris-saint-germain-maakt-grote-sprong-in-web3-met-historische-stap/
