summary
- Paris-Saint Germain: Leading as the inaugural football team to serve as a validator on a blockchain.
- Paris-Saint Germain officially validates the Chiliz Chain blockchain.
- CHZ experiences a surge of over 10% in the past 24 hours, attributed to Paris-Saint Germain’s involvement.
Paris-Saint Germain has announced its intention to be the pioneering football club in validating a blockchain. As such, the French club will serve as a validator for the Chiliz Chain, which hosts the PSG Fan Tokens.
Paris-Saint Germain: Leading as the inaugural football team to serve as a validator on a blockchain:
Paris-Saint Germain’s decision to become the inaugural football team to serve as a validator on a blockchain network marks a significant milestone in the intersection of sports and technology. This pioneering move showcases the club’s forward-thinking approach and willingness to embrace cutting-edge innovations, particularly within the realm of blockchain technology.
By taking on the role of a validator, Paris-Saint Germain is not only breaking new ground in the sports industry but also leading the way for other clubs to explore similar opportunities. As a validator, the club plays a crucial role in verifying and securing transactions on the blockchain network, thereby contributing to its overall integrity and reliability.
In particular, the French football powerhouse will serve as a validator on the Chiliz Chain network, which is the platform hosting the PSG Fan Tokens. Here is the announcement made by Chiliz on X:
“We are excited to announce that @PSG_inside is collaborating with Chiliz to become the first sports club to validate a blockchain. Paris Saint-Germain is committed to reinvesting all validator revenues in repurchasing PSG fan tokens.
Paris-Saint Germain’s decision to become the inaugural football team to serve as a validator on a blockchain network marks a significant milestone in the intersection of sports and technology. This pioneering move showcases the club’s forward-thinking approach and willingness to embrace cutting-edge innovations, particularly within the realm of blockchain technology.
By taking on the role of a validator, Paris-Saint Germain is not only breaking new ground in the sports industry but also leading the way for other clubs to explore similar opportunities. As a validator, the club plays a crucial role in verifying and securing transactions on the blockchain network, thereby contributing to its overall integrity and reliability.
Moreover, Paris-Saint Germain’s involvement as a validator underscores its commitment to leveraging technology to enhance various aspects of its operations. Beyond the traditional realms of sports performance and fan engagement, the club recognizes the potential of blockchain technology to streamline processes and improve efficiency in areas such as ticketing, merchandise sales, and sponsorship agreements.
Furthermore, by embracing blockchain, Paris-Saint Germain aims to enhance fan engagement and create new avenues for interaction and participation. Through initiatives such as fan tokens and blockchain-based loyalty programs, the club seeks to forge closer connections with its global fanbase and offer unique experiences that go beyond traditional spectatorship.
Paris-Saint Germain officially validates the Chiliz Chain blockchain
Chiliz Chain is delighted to have Paris Saint-Germain join as a validator on its blockchain. This signifies that the renowned French football club will engage in both token issuance and decision-making within the Chiliz ecosystem.
Presently, Chiliz benefits from its robust $1 billion SportFi ecosystem, which is rich with cryptocurrency-oriented sports enthusiasts and boasts advanced infrastructure. Moreover, Chiliz serves as the launchpad for more than 50 Web3 projects.
By publicly endorsing the Chiliz Chain, Paris-Saint Germain is not only demonstrating its commitment to embracing blockchain technology but also lending its esteemed reputation and credibility to the platform. This endorsement reinforces the club’s position as a trailblazer in the sports industry’s adoption of blockchain technology, setting a precedent for other clubs to follow suit.
PSG has also become part of the updated Chiliz tokenomics model, featuring a novel inflation reward mechanism enabling CHZ token holders to earn rewards.
In line with this, Paris Saint-Germain has pledged to utilize all its earnings as a node validator on the Chiliz Chain to conduct routine buybacks of $PSG Fan Tokens from the public market.
Pär Helgosson, Head of Web3 at Paris Saint-Germain, remarked:
“BY BECOMING A VALIDATOR OF THE CHILIZ CHAIN, WE ARE NOT ONLY EMBRACING THE FUTURE OF WEB3 SPORTS; WE ARE ACTIVELY DESIGNING IT SO THAT WE CAN HAVE A MORE DIRECT RELATIONSHIP WITH OUR FANS THROUGH WEB3 EXPERIENCES. WE WILL OPTIMIZE OUR FUTURE COMMITMENTS TO ACHIEVE NETWORK EFFECTS, AMPLIFYING THE VALUE AND REVENUES THAT EACH STAKEHOLDER CAN GENERATE AND EXPERIENCE IN THIS NEW DIGITAL ECONOMY. OUR COMMITMENT IS TO BUILD A MORE POWERFUL AND SUSTAINABLE WEB3 ECOSYSTEM, LEVERAGING THE STRONG FOUNDATIONS OF OUR EXISTING RELATIONSHIP WITH SOCIOS AND CHILIZ. PSG IS COMMITTED TO PROMOTING INNOVATION AND THE CLUB WILL CONTINUE TO DEVELOP OPPORTUNITIES WITH OTHER PARTNERS IN THIS SPACE.”
Overall, Paris-Saint Germain’s validation of the Chiliz Chain represents a significant step forward in the integration of blockchain technology into the sports industry. It underscores the potential for blockchain to revolutionize fan engagement, monetization, and operational efficiency within the sports and entertainment sectors, paving the way for a new era of innovation and collaboration.
CHZ experiences a surge of over 10% in the past 24 hours, attributed to Paris-Saint Germain’s involvement
Investors in Chiliz (CHZ) have warmly welcomed the recent development, resulting in a notable 10% surge in the cryptocurrency’s value over the past 24 hours.
As of the current moment, CHZ is valued at $0.1306, having recently peaked at $0.1313, a considerable upswing from yesterday’s figure of $0.11.
Examining the weekly chart, CHZ’s price has experienced a substantial 22% increase. In contrast, during October 2023, CHZ reached its annual low at a price of $0.05.
This pivotal period coincided with CHZ and the Chiliz Chain being listed on the renowned cryptocurrency exchange Bitget. Remarkably, one month following this development, the price of CHZ embarked on a bullish trajectory that continues to the present day.
The substantial uptick in the value of CHZ reflects the market’s acknowledgment of the potential advantages and opportunities arising from the collaboration between Paris-Saint Germain and the Chiliz blockchain network. Investors perceive this partnership as a significant milestone that enhances the credibility and legitimacy of both Paris-Saint Germain and the Chiliz Chain.
Furthermore, Paris-Saint Germain’s involvement as a validator on the Chiliz Chain validates the utility and potential of the CHZ token within the sports industry, thereby instilling confidence among investors regarding its long-term value proposition. This validation serves to reinforce CHZ’s position as a valuable asset within the crypto market, attracting increased interest and investment from both institutional and retail investors.
