Paris Saint-Germain (PSG), a major French soccer team in the country’s top league, is planning to issue its own cryptocurrency as a way to incentivize participation from its fans around the world.
PSG, which boasts prominent players including Brazil star Neymar, announced a multi-year partnership on Tuesday with a Malta-based blockchain startup called Socios that will tackle on the technology for the so-called Fan Token Offering.
Rather than a monetary role for PSG’s coin however, the goal is to allow fans who hold the token to be able to vote for and decide on less strategic matters, such as team jersey choices or opponents in friendly matches, the report said.
PSG’s chief partnership officer Marc Armstrong commented in the announcement:
“Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the club’s overall business strategy and the way we engage with our fanbase.”
With the news, PSG follows other European soccer clubs into embracing the idea of blockchain and cryptocurrency.
Last month, seven major clubs in the U.K.’s Premier League including Newcastle United, Crystal Palace, and Leicester City inked a deal with online investment firm eToro to allow sponsorship payments in bitcoin.