Ever got so frustrated when your favorite club makes a stupid decision? Ever dreamed of having some say in how your club works? One of France’s most celebrated football teams has decided to launch its own digital token. The token comes with perks like voting rights on some of the decisions made by the club.
Paris Saint-Germain becomes the latest professional sports club to enter the crypto space.
Although the work’s underway but they plan on launching their digital token in the spring of 2019. It will allow fans to vote on its cosmetic decisions; including the music played in the stadium, the color of the team’s shirts, and awards for stand out performances from the players, amongst others.
Time to DJ at the stadium for free!
The dream has been made possible due to a blockchain firm called Socios.com. With this announcement, Paris Saint-Germain becomes the latest club in the growing market of cryptocurrency. Although, Gibraltar FC made history earlier than Paris Saint-Germain by becoming the first sports club to pay its players using cryptocurrency.
Meanwhile, crypto is more commonly being used in the UK where there are using crypto instead of fiat currency for most of its things. The trading platform sponsored several premier leagues. The deals were financed using Bitcoin and finally, Rimini FC 1921 became the first club to be bought using cryptos. They used the obscure cryptocurrency Quantocoin to make 25% of its payments.
It seems like, football clubs aren’t the only sports that appear to be making use of this new, emerging ‘nerd money.’ The planet’s best baseball league launched its own collectible trading game on the Ethereum platform. The initiative was to get people interested in the once again.
As crypto continues to grow and slowly creeps its way into various industries, it is causing ripples in the sports stream. Though the sports sector seems to be a little late to the party we don’t mind as long as they are doing SOMETHING now. Better late than never, right?
While we wait for a massive breakthrough, we are slowly being exposed to small start-ups. They range from encouraging people to play sports by rewarding them with cryptocurrency; to fans being rewarded depending on their involvement in the club. The blockchain usually makes use of tokens as they aren’t equivalent to fiat currency. Instead, it’s like buying off services like voting rights, the kind of music that’s being played, etc.
They are also places where you donate for sports and since it’s a transparent system, people are more inclined towards using it. Blockchains like BitTrack can be used to make sure your money is being used in the right place. Your money goes where you want it without anyone hanky-panky.
Start-ups like Inoovi, LFE etc. are also working to improve the organization of sports events by keeping procedures like ticketing, selling merchandise, transparent.
As they continue to grow, we are excited to see what else the sports industry will be bringing to the table in terms of cryptocurrency and blockchain integration.