Fan tokens gained significant attention among crypto enthusiasts in 2021, with CHZ Coin performing exceptionally well during that period. However, the bear market led to a decline in the number of active participants and diminished risk appetite, which negatively impacted trading volumes and prices.
CHZ Coin News
The company behind Chiliz, Socios, recently announced a new partnership. As the “Official Branded Cryptocurrency Partner” of Paris Saint-Germain, Socios has signed a multi-year strategic agreement. PSG will receive support from Socios to develop its fan token, allowing fans to engage with the club through polls via the application.
Impact of the Partnership
Marc Armstrong, PSG’s Partnerships Director, stated that this innovative technology would significantly impact the club’s business processes. Socios CEO Dreyfus expressed his excitement about being the first club to sign a contract to work on the evolution of fan engagement strategies through the blockchain platform with Paris Saint-Germain. He highlighted PSG’s position as a digital pioneer, recognizing the club’s vision to embrace this new technology and set a new standard in fan engagement.
Despite these developments, the price of CHZ has not been influenced.
