Paris Saint-Germain Fan Token

Fan Tokens give supporters of various sports teams, leagues, and clubs the opportunity to play a role in decision-making processes. Through the Socios.com platform, fans can engage in selecting things like a stadium goal celebration song or deciding which fighters should compete in an MMA event. Beyond these choices, Fan Tokens grant holders exclusive experiences such as meet and greets with players and special training day events.

Numerous prestigious sports organizations have partnered with Socios.com to launch their Fan Tokens, including giants like FC Barcelona, Inter Milan, AC Milan, Manchester City, UFC, ROUSH Fenway Racing, and Aston Martin, among others.

Chiliz ($CHZ), an ERC20 utility token on the Ethereum blockchain, acts as the digital currency for both Chiliz and the Socios.com platforms. As these platforms launched alongside other sports blockchain projects, a new class of token emerged—known as the Fan Token. New club partners, once onboard with Socios.com, initiate what is termed a Fan Token Offering (FTO). Fans looking to obtain Fan Tokens need to first purchase $CHZ through a cryptocurrency exchange. Fan Tokens are limited digital assets tied to a particular team, providing access to a secure ledger where voting and membership rights are recorded.

Fan Tokens are created on an EVM-compatible, permission-based sidechain known as Chiliz Chain. At present, this chain does not impose any transaction fees, allowing for quick and cost-effective transfers of Fan Tokens.

Chiliz has plans to enhance the Chiliz Chain to establish itself as a frontrunner in the sports blockchain arena. This upgrade might pave the way for activities like minting NFTs, staking, and more.