Created in January 2020, the Paris Saint-Germain Fan Token was conceived as a high-tech way to build a new fan community. The holders of the tokens can interact regularly with the club through instruments like online polls that gamify the fan experience. It was never designed to be an investment vehicle. The crypto community, apparently, didn’t get the memo -- when this week a bidding war broke out for the PSG tokens, sending the value up more than twofold at one point.
Tuesday’s rally comes despite cautionary comments from PSG’s partner. When Socios.com expanded its reach into the U.S., it set limits on the purchase of tokens and issued a warning on its site that “fan tokens are for entertainment purposes only and are not financial investment instruments.” With the recent craze in all things crypto, the message appears to have fallen on deaf ears—if indeed it was read at all.