Last month, AltcoinBuzz reported a new partnership between the legendary French football team Paris Saint-Germain (PSG) and Chiliz, a sports blockchain.
The partnership saw PSG become the first sports club to serve as a node validator for the Chiliz Chain.
Chiliz Unveils Partnership Details with PSG
Pär Helgosson, the Head of Web3 at PSG, and Chiliz CEO Alexandre Dreyfus recently shared more details about their partnership in an X Spaces discussion last week. They discussed the implications of their new partnership for the club, its supporters, and the sports industry as a whole.
Helgosson explained that Chiliz’s status as the “platform for sports brands to play” and the “biggest in the market right now” enticed PSG into embracing a deeper role within the ecosystem. Another important factor behind the partnership was Chiliz’s recently released new tokenomics, which allow PSG to implement a circular, sustainable model.
Chiliz x PSG AMA 🎙️ Oops, did you just miss the AMA with @PSG_Inside Head of Web3 Pär Helgosson and Chiliz CEO @Alex_Dreyfus?
Don’t worry! We have prepared a summary for you or you can watch it back here 👇https://t.co/9IS5oQzfow#ChilizChain ⚡️ $CHZ pic.twitter.com/1idZWUqqZ9
— Chiliz ($CHZ) – The home of SportFi ⚽🏆 (@Chiliz) March 8, 2024
Speaking on the tokenomics, Helgosson said, “The new tokenomics allows us to implement this circular sustainable model, running the node and using the funds and the means generated in ways it makes sense to build the fan base and build utilities and experiences.”
What Is the Importance of the Partnership?
As the Chiliz ecosystem develops and expands, PSG’s decision to become a node validator for the Chiliz Chain is a long-term one that will undoubtedly benefit the team and its fans greatly.
Explaining one of the significances of the move, Helgosson said, “If you stake your tokens on our validator node, you will get access to things that otherwise you wouldn’t get, and receive different perks that you might not receive otherwise. This is going to allow us to engage, activate, and re-engage the fan base in ways we couldn’t do before.”
As Helgosson explained, an essential part of PSG’s long-term strategy is having an add-on channel that will allow the club to own and manage its relationship with its fans and provide customized engagement.
⚡Paris Saint-Germain's director of #Web3 shares that the team is committed to using blockchain, Web3, tokenization, and metaverse technologies to evolve fan engagement in the digital era.#PSG #NFT #metaverse #crypto pic.twitter.com/wB5Du8SUdT
— Alternative Crypto Outlook (@AltCryOut) August 30, 2023
Several sports teams followed PSG’s steps in launching fan tokens on Chiliz. The idea behind these tokens is to improve fan engagement and also serve as an extra source of income for the club. Interestingly, Helgosson believes other European teams could follow PSG in becoming a Chiliz chain node validator.
Chiliz to Onboard More Teams
Since launching in 2018, Chiliz has been attracting sports fans and clubs. The platform plans to onboard more clubs as node validators but believes that could take some years to achieve.
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