Chiliz

Token

<div class="coinjournal">
 <ul>
 <li>French footballing giant Paris Saint-Germain has become a validator on the Chiliz blockchain.</li>
 <li>PSG is now the first football club to run a validator for a cryptocurrency network.</li>
 <li>The $PSG Fan Token jumped following the news, with the club set to reinvest the earned rewards in a buyback program.</li>
 </ul>
 Paris Saint-Germain is now an official network <a rel="noopener noreferrer nofollow" title="validator" href="https://thebittimes.com/tag/validator.html">validator</a> for the Chiliz Chain block<a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a>, a role that makes the French giant the first <a rel="noopener noreferrer nofollow" title="football" href="https://thebittimes.com/tag/football.html">football</a> club to actively participate in the running of a block<a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a> network.
 PSG takes up the role as part of its partnership with the Socio.com platform, the Chiliz team announced on Thursday. This comes as Chiliz Chain unveils its revamped tokenomics model, with new staking rewards paid in the native $CHZ token.
 <blockquote>
 “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,” Pär Helgosson, head of Web3 at Paris Saint-Germain, noted.
 </blockquote>
 <h2 id="span-style-font-weight-400-psg-to-initiate-token-buyback-span">PSG to initiate token buyback</h2>
 Per today’s announcement, PSG will use 100% of the funds accrued from its validator reward to buy back its fan token. The club will execute its buyback program via smart contracts, with the reinvesting meant to help refresh the $PSG token’s reserves.
 Other than becoming a block<a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a> <a rel="noopener noreferrer nofollow" title="validator" href="https://thebittimes.com/tag/validator.html">validator</a>, PSG will collaborate with Chiliz as a co-host of a hackathon club’s stadium Parc Des Princes.
 The $PSG Fan Token rose after the news, rising to highs of $3.88 on February 22. Meanwhile, the Chiliz ($CHZ) token also experienced an upswing, jumping to a nine-month high above $0.13. At the time of writing, $PSG traded around $3.68 while $CHZ changed hands above $0.12.
 The Ligue 1 leaders launched the club’s Fan Token in September 2018.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/psg-becomes-first-football-club-blockchain-validator-tbt80527.html">https://thebittimes.com/psg-becomes-first-football-club-blockchain-validator-tbt80527.html</a>

PSG becomes first football club blockchain validator

Table of Contents

TheBitTimes

Other articles published on Feb 22, 2024

Valkyrie launches 2x leveraged Bitcoin futures fund

Stacks (STX) price outperforms the market as interest in layer-2 Bitcoin grows

Ethereum’s circulating supply craters to 120M – A post-Merge low

Nigeria Says This Exchange Enables Currency Manipulation by Criminals

Access Early VC Crypto Gems via Common Wealth Airdrops

JasmyCoin rallies 295% as Bitcoin Dogs take the crypto stage by storm

Join our free newsletter for daily crypto updates!