Paris Saint-Germain becomes a Blockchain validator, the first football club to do so

French soccer giant Paris Saint-Germain (PSG) will become a network validator for the Chiliz Chain blockchain that hosts its PSG fan tokens.

PSG intends to use the money it generates to the tokens back on a regular basis.

While sports clubs have flirted with the crypto space over the years, this is the first time a club is getting involved as a blockchain validator.

Validators are entities that manage blockchain nodes, securing the network through functions including transaction verification and smart-contract authorization. In exchange, validators generate revenue from running a node.

PSG introduced its fan token in September 2018. The token now has a market cap of $28 million.

Other big-name soccer clubs with tokens on Chiliz include FC Barcelona, Manchester City, Juventus, Arsenal, Inter Milan and AC Milan.

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