A Complete Guide to PSG Token: All You Need To Know

€ 3.424

1.0517
Last updated23:03:06 UTC
Market Cap
€ 27,482,173.
Fully Diluted Market Cap
€ 68,479,962.23
Volume
€ 960,234.81
Circulating Supply
8,026,340.00 PSG

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Last updated at 23:15:06 UTC

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What is PSG Token?

The PSG Token is the official cryptocurrency of the renowned football club Paris Saint-Germain. It’s a unique Fan Token based on blockchain technology, offering holders numerous advantages and privileges associated with the team and the club. In essence, PSG Tokens are inexhaustible digital assets that function as an exclusive membership for Paris Saint-Germain fans.

The blockchain supporting the PSG Token is the Chiliz Chain. This decentralized platform employs smart contracts to ensure transaction security and transparency. This technology allows PSG Token holders to actively participate in club decisions through the Socios.com application. Fans can vote on various topics such as kit designs, team buses, and even team composition.

The number of PSG Fan Tokens required for participation in decisions and rewards depends on the event or survey. However, even with just one $PSG Token, fans can influence the team and enjoy rewards. How much influence and voting weight a holder has depends on the number of PSG Tokens they possess. For example, if a fan owns 10 Tokens, their vote counts as 10. Rewards are accessible by engaging in quizzes, games, and club decisions on the Socios.com app.

The History of PSG Token (PSG)

The history of PSG Token began in 2018 with the launch of Socios, a sports app primarily aimed at football fans. Socios was created by Alexandre Dreyfus, an entrepreneur and cryptocurrency enthusiast. The Socios app aims to allow fans to participate in the daily activities of their favorite football clubs and earn rewards in exchange for engagement.

PSG Football Stadium

In 2020, the Paris Saint-Germain Football Club, in collaboration with Socios.com, created the PSG Token, becoming the first sports franchise to partner with the Chiliz blockchain platform (see Chiliz prediction). Initially, fans had to purchase Chiliz tokens (CHZ) on crypto exchange platforms to acquire PSG Tokens on the Socios platform.

Founded in 1970, Paris Saint-Germain is the most successful club in France, with over 45 official titles. After a prosperous period in the 1990s, the club had a dip in form but has experienced a resurgence of success since 2011 due to increased financial support. Since the creation of the PSG Token, holders have been able to participate in various club decisions and events. In 2020, they voted for the best goal of the season and the best skill. The same year, captain Marquinhos wore a special armband with the message “ICI C’EST PARIS” (Here is Paris), chosen by PSG Token holders.

In 2021, fans were invited to select the best defensive play of the season during the PSG Fan Token Awards. Other opportunities included choosing an inspiring message before matches and selecting the cover for the FIFA 2022 videogame.

Why was PSG Token (PSG) Crypto Created?

PSG Token (PSG) was designed to offer Paris Saint-Germain fans a unique platform that allows them to interact and influence team decisions in a novel way. Through Socios.com, PSG Token holders can actively participate in the club’s activities, thereby enhancing their sense of belonging and commitment to the team.

The main goal of the PSG Token initiative is to give fans worldwide a share of influence over the decisions made by the club. As mentioned earlier, token holders have the opportunity to vote on various elements related to team management, such as captain’s armband message, goal of the season, performance of the season, and more.

In addition to these participation opportunities, PSG Token holders also enjoy exclusive privileges such as VIP access to hospitality areas at Parc des Princes, the chance to meet their idols, access to signed memorabilia, and many other benefits.

How does PSG Token Work?

Socios.com website with Lionel Messi in advert holding a phone

PSG Token operates on the Socios blockchain. This is the first voting and reward platform for fans using blockchain technology. The Socios app is available on mobile platforms Google Play and the App Store.

Interaction of Fans with the Socios App

The Socios app allows fans to feel more connected to their favorite teams and influence certain decisions. However, transparency around how voting and benefits work might be limited for internet browser users. To access the full list of features, downloading the app is necessary.

Unlike NFTs, fan tokens like $PSG are fungible, which means they can be exchanged for exclusive merchandise or fan experiences. Socios generates a limited amount of $PSG tokens, which users can trade to obtain club-related offers. The more users interact on the platform, the more points they earn to win prizes such as VIP tickets or opportunities to hunt for other tokens.

Chiliz ($CHZ) and the Chiliz Chain 

Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain, serving as the digital currency for Chiliz and Socios.com platforms. Fan tokens are minted on a blockchain called the Chiliz Chain. This chain is progressively improving to position itself as a leader in the sports blockchain space. This potentially opens the door to NFT minting, staking, and other features.

In 2023, Chiliz completed its migration to a new network. Specifically, the Chiliz Chain transitioned from the Ethereum environment to a BNB Chain fork, utilizing a Proof-of-Stake Authority (PoSA) consensus mechanism.

Where to Buy PSG Token (PSG)?

To purchase PSG Tokens, you need to use a cryptocurrency exchange platform. Here are three popular platforms for buying PSG Tokens: Binance, Huobi, and Bybit. The registration and purchasing process for PSG Tokens on these platforms are similar, requiring account creation and identity verification.

Binance

Binance stands out as the best option for acquiring PSG Token crypto. Thanks to its dominant position in the cryptocurrency market, the platform attracts a growing number of users. Founded in 2017 in Hong Kong by Changpeng Zhao, Binance quickly evolved to become one of the most significant cryptocurrency exchange platforms globally.

Binance website landing page

Binance’s growth continued between 2019 and 2020 with the acquisition of several companies, including CoinMarketCap. Today, Binance offers the ability to trade over 380 cryptocurrencies (see prices), including $PSG.

The Binance platform offers a comprehensive and diverse ecosystem. It includes features such as a Visa card, staking options, a launchpad, and many other services. These characteristics make it an essential platform for cryptocurrency investors.

By opting for Binance, you benefit from user-friendly functionality and competitive transaction fees. Purchasing PSG Tokens on Binance is straightforward:

  • Register
  • Verify your identity
  • Deposit funds
  • Search for the corresponding trading pair (PSG/USDT or PSG/BTC).
  • Place a buy order by indicating the desired amount of PSG Tokens and the price at which you’re willing to buy. Once the order is executed, the tokens will be added to your Binance wallet.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

Huobi

Huobi Global, launched in 2013, stands out as one of the top options for buying PSG Tokens. Thanks to its strong reputation in China, the platform differentiates itself. Additionally, Huobi offers numerous appealing features.

The platform provides services such as staking, Primepool, Huobi Earn, and ETH 2.0. These features allow users to generate passive income with their cryptocurrencies.

One of Huobi’s major advantages is its “trader” level system, which evolves based on trading volume over 30 days. The higher the level, the lower the transaction fees, incentivizing users to conduct more transactions on the platform.

Huobi’s Primepool service enables users to acquire new cryptocurrencies (Airdrops) by “locking” other assets for a specified period. This feature provides the opportunity to invest in emerging projects and increase user portfolio diversification. In this regard, Huobi positions itself as one of the top alternatives for purchasing PSG Token crypto.

HTX

  • Competitive fees
  • Large number of cryptocurrencies
  • Abundance of trading features

Bybit

Bybit stands out as one of the best options for buying PSG Tokens. It offers multiple services and features powerful trading tools.

The platform offers over 100 cryptocurrencies, available in both spot and futures contracts. This provides a wide variety of choices for investors.

Furthermore, Bybit offers a powerful trading tool that, while requiring some adaptation time, allows for effective trading conditions. Users can customize the chart by choosing candlestick types and candle periods. This enables traders to tailor their technical analysis to their preferences and trading strategy.

To buy or sell cryptocurrencies, including PSG Tokens, on Bybit, users can either execute market price transactions or place pending buy or sell orders. This flexibility allows for better cost and risk management in cryptocurrency investment.

bybiit logo orange on navy blue

But which platform to choose, which platform to prioritize among the three we just presented? In our opinion, the best solution… is Binance. Binance is THE number one trading platform in the world, with a lot of liquidity. It allows you to place your orders in minutes, even seconds. Add to that a myriad of features and tools, and you have a great combo for investing freely in the PSG Token.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

PSG Token Fear and Greed Index

Updated:: 29 February 2024

Now: 78 Extreme Greed

Now: 78 Extreme Greed

Yesterday: 78 Extreme Greed

Last Week: 78 Extreme Greed

Is PSG Token a Good Investment in 2024?

Investing in PSG Token in 2024 presents interesting opportunities, but also risks. The evolution of PSG token crypto will depend on several factors, including the adoption of tokens by sports clubs, fan engagement, and the overall performance of the cryptocurrency market. Here are some advantages and disadvantages to consider before deciding if purchasing $PSG is a good investment.

In short, purchasing any PSG Token in 2024 can be seen as an interesting investment for football fans and cryptocurrency enthusiasts seeking diversification. However, it’s essential to weigh the advantages and disadvantages mentioned above before making an investment decision.

Our Final Take on PSG Token

Our final take on PSG Token is based on analyzing the advantages, disadvantages, and potential of this token. PSG Token offers a unique opportunity for football fans to get closer to their favorite club, Paris Saint-Germain, by giving them the ability to influence certain decisions and access exclusive experiences and benefits.

Using blockchain technology to enhance fan engagement is an innovative approach. However, it’s important to consider potential challenges associated with investing in PSG Token, such as its low market capitalization and sometimes insignificant trading volume.

Overall, PSG Token presents interesting potential for football fans and cryptocurrency investors, especially those looking to diversify their portfolios. Nonetheless, caution and thorough research are advised before committing to this investment. As with any cryptocurrency, the associated risks should be considered, and investors should be prepared to embrace the inherent fluctuations of this dynamic market.

Advantages and Disadvantages of PSG Token

  • Voting rights: PSG Token holders have a say in various decisions. They can vote in surveys conducted by their club.
  • VIP meetings: PSG Token holders can meet team members and even have online meetings with players.
  • Other benefits: Earn match tickets, uniforms, or club souvenirs, and interact with other fans worldwide.
  • Low market capitalization: Fan Tokens, including PSG Token, generally have lower market capitalization. This can make their market less liquid and more susceptible to manipulation.
  • Sometimes insignificant trading volume: The trading volume on some exchange platforms can be low, making buying and selling PSG Tokens challenging and potentially costly due to the spread between buy and sell prices.
  • Dependence on the Socios ecosystem: The value and utility of PSG Tokens are closely tied to the Socios ecosystem. Changes in technology, regulations, or competition could impact this ecosystem.
  • Holders of PSG Tokens can only vote on relatively minor matters.
  • Sporting and commercial decisions of the club are not influenced by fan votes.
  • Fans may fall victim to market manipulation.

FAQs about PSG Token

What is PSG Token and how does it work?

PSG Token is a cryptocurrency based on the Socios blockchain, designed to bring football fans closer to Paris Saint-Germain. PSG Token holders can influence certain club decisions and enjoy exclusive benefits and experiences.

Is PSG Token a good investment?

Buying PSG Tokens offers an interesting potential for football fans and cryptocurrency investors. However, it’s crucial to consider associated risks and conduct thorough research before engaging in this investment.

What benefits can I get from holding PSG Tokens?

By holding PSG Tokens, you can influence certain club decisions, access VIP experiences, win official merchandise, and much more. Token holders can also participate in promotions, games, and interact with other fans worldwide.

Are PSG Tokens similar to NFTs?

While PSG Tokens offer exclusive rewards and benefits, they are different from NFTs. PSG Tokens are fungible, meaning they can be exchanged for exclusive merchandise or fan experiences, whereas NFTs are unique, non-interchangeable digital assets.

What is the Tokize PSG Token prediction?

Predicting the future value of PSG Token is challenging. Cryptocurrency market volatility is a real consideration, and it’s difficult to anticipate how specific projects might perform. One certainty is that PSG Token has genuine fundamentals and is backed by fans. The future depends on market evolution!

About the author

Sam Town

A writer from the north of England, I've been fascinated by all things cryptocurrency since the early days of Bitcoin. I've written countless articles in the crypto space over the years, contributing to various websites in the process. I'm always reading and forever following the trends and expanding my knowledge so that I always have more to share!