“PSG’s active role as an official validator will undoubtedly propel our SportFi ecosystem to new areas, furthering our long-standing partnership with the club.”
Paris Saint-Germain (PSG) has become the first sports club undertaking the role of a blockchain validator, in this case for the Chiliz Chain.
In partnership with Socios.com, PSG’s official Fan Token partner, the club will actively contribute to the security, accuracy, and reliability of the Chiliz blockchain. The collaboration is set against the backdrop of Chiliz’s SportFi ecosystem, which is already a hub for over 50 web3 projects.
PSG beyond the issuance of Fan Tokens
PSG’s role as a validator extends its engagement with the blockchain beyond the issuance of Fan Tokens to a more involved participation within the ecosystem. Since launching its Fan Token in September 2018, PSG has led the sports industry’s foray into web3, a journey now furthered by its decision to reinvest all validator revenue into buying back PSG Fan Tokens.
Moreover, PSG and Chiliz will host blockchain hackathons at Parc Des Princes, inviting developers to explore innovative web3 solutions. This move not only highlights PSG’s commitment to digital innovation but also fosters a deeper engagement with its global fan base through web3 technology.
Alex Dreyfus, CEO of Chiliz and Socios.com, said: “We’re thrilled to deepen our existing relationship with Paris Saint-Germain by welcoming them as an official validator on the Chiliz Chain. This evolution marks a significant milestone in the adoption of web3 by fans, clubs, and leagues. We’re confident that this move will pave the way for other clubs to join us in this innovative journey. PSG’s active role as an official validator will undoubtedly propel our SportFi ecosystem to new areas, furthering our long-standing partnership with the club.”
Pär Helgosson, Head of Web3 at Paris Saint-Germain, commented: “By becoming a validator on the Chiliz Chain, we’re not just embracing the future of web3 sports; we’re actively designing it so that we can have a more direct relationship with our fans through web3 experiences. We will optimize our future engagements for network effects, amplifying the value and revenue each stakeholder can generate and experience within this new digital economy. Our commitment is to build a more empowered and sustainable web3 ecosystem, leveraging the solid foundation of our existing relationship with Socios and Chiliz. PSG is committed to fostering innovation and the club will continue to develop opportunities with other partners in this space.”
Chiliz onboarded 25 partnerships
Chiliz’s ventures in 2023 also included the launch of a $50M Chiliz Labs incubator and accelerator program to promote early-stage blockchain projects in sports. Furthermore, Chiliz acquired a 20% stake in MatchWornShirt, to support the authenticity of sports collectibles through blockchain technology.
The company’s SportFi ecosystem has onboarded 25 key partnerships with projects such as Blockasset, FanFest, LiveLike, Football at AlphaVerse, TopGoal Footballcraft, and Lillius. Chiliz also collaborated on the One Shirt Pledge with the sports charity Common Goal, using blockchain for philanthropy by auctioning athletes’ match-worn shirts authenticated on Chiliz Chain.
Socios.com, Chiliz’s fan engagement and rewards app, also saw strong growth in 2023. It reported a 30% increase in users across 160 countries and onboarded major clubs, including Tottenham Hotspur from the English Premier League. The app introduced features like Locker Room, which lets fans obtain unique digital collectibles, and conducted over 3,000 Fan Polls, involving fans in decisions ranging from kit designs to squad numbers. Additionally, 50,000 fans were rewarded with signed merchandise, match tickets, and VIP experiences.
Chiliz Chain alone recorded over 3 million transactions in 2023, contributing to Chiliz’s total revenue generation of $437 million for the sports industry to date. Looking forward to 2024, Chiliz aims to build on these successes and further mainstream SportFi for the benefit of clubs and fans.
