Paris Saint-Germain (PSG) has taken a historic leap in its web3 strategy by becoming the first sports club to join the Chiliz blockchain as an official validator. This move signifies a significant milestone in sports and web3 integration, showcasing PSG’s commitment to the digital future and comes barely days after Chiliz (CHZ) signed a strategic deal with South Korea’s premier league.
By leveraging the Chiliz blockchain and its partnership with Socios.com, PSG aims to foster a self-sustaining digital economy for its fanbase while promoting engagement and innovation within the sports community.
PSG as an official Chiliz Blockchain validator
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By joining forces with Chiliz as an official validator, PSG aims to leverage the robust infrastructure of the Chiliz blockchain to further enhance its digital ecosystem and provide unique experiences to its fanbase.
Chiliz enjoys a $1bn SportFi ecosystem, filled with crypto-native sports fans, besides its advanced infrastructure and the array of decentralized applications it supports. The Chiliz Chain has already become a launchpad for 50+ web3 projects, demonstrating both the chain’s robust infrastructure and its capacity to attract leading web3 products and services.
As a validator on the Chiliz Chain, PSG will play a crucial role in maintaining the network’s integrity, security, and operations. Validators are responsible for verifying transactions, authorizing smart contracts, and ensuring the smooth operation of the blockchain.
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PSG’s involvement as a validator signifies a significant shift from passive participation to active engagement within the web3 ecosystem, setting a precedent for other sports clubs to follow suit.
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Furthermore, PSG has committed to reinvesting all validator revenue into buying back $PSG Fan Tokens from the public marketplace. This initiative aims to bolster the club’s digital economy while providing fans with ownership of digital assets and fostering a deeper connection with the PSG brand.
Additionally, PSG and Chiliz are set to co-host blockchain hackathons at the Parc Des Princes stadium, further promoting web3 innovation and digital fan community engagement.
Chiliz Chain: innovation in sports blockchain technology
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The Chiliz Chain stands as a testament to the convergence of sports and blockchain technology, offering a diverse ecosystem fueled by the native token CHZ.
With Socios.com serving as its primary platform, Chiliz has amassed a global community of over two million users, making it the largest non-finance/trading-centric web3 consumer-facing product globally by user base.
Through strategic partnerships with leading sports clubs such as PSG, FC Barcelona, and Juventus, Chiliz is spearheading the adoption of blockchain technology in the sports industry.
As PSG joins the Chiliz Chain as an official validator, the stage is set for a new era of innovation and collaboration in sports blockchain technology. By leveraging the capabilities of the Chiliz blockchain, PSG aims to redefine fan engagement and create a more empowered and sustainable web3 ecosystem for its fanbase.
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