Young Monday: Boateng, a new stablecoin pegged to the Euro and the record-breaking PSG fan token

Elisa Campaci

4 min

Boateng’s wedding in the metaverse, a euro-pegged stablecoin and PSG’s fan token

Weddings in the Metaverse, Circle’s new stablecoin, Lacoste’s NFT collection and Paris Saint Germain’s record breaking fan token

June is the month of weddings, and no bear market can prevent this: people are now getting married on the blockchain! In fact, just a few days ago, the wedding between the footballer Kevin-Prince Boateng and Valentina Fradegrada took place in the AR Over The Reality metaverse. It is one of the first weddings celebrated in the Metaverse and the event has attracted a lot of attention. Focussing on the NFT sector, the headline of the week involves Lacoste. The brand launched its first collection of non-fungible tokens featuring the iconic crocodile and promises of exclusive benefits. In this edition of Young Monday, you will also learn about Circle’s new stablecoin (pegged to the Euro) and Paris Saint Germain’s new record-breaking fan token!

Swearing eternal love on the blockchain

Kevin-Prince Boateng and Valentina Fradegrada took their wedding vows on Polygon. On the 11th of June, the footballer and the influencer (also multiple Wushu Kung Fu champion) got married in a location in the province of Siena, Tuscany, as well as in the Over The Reality metaverse. The ceremony was organised by Enzo Miccio, Italy’s most famous wedding planner, who took up the couple’s challenge: to organise a wedding where no one else had celebrated one before. Miccio therefore suggested a ceremony in the Metaverse that recreated a lunar landscape through 3D graphics. Miccio himself officiated the virtual wedding! Guests of the Boateng-Fradegrada couple participated by logging in with an NFT. Their fans, who were not invited to the festivities, were able to purchase a spectator ticket at a cost of around 50 Euros. Over The Reality is a decentralised metaverse that allows for augmented reality events of any kind, using the Ethereum and Polygon blockchains. Its token is called OVR.

Lacoste NFT’s collection sells out immediately after launch

The French clothing brand released UNDW3, an NFT project designed to build an online community by experimenting with new Web3 technologies. The collection was released on the 14th of June, and it consists of 11,212 pieces that were sold for 0.08 ETH each. Within a short space of time, the collection was sold out. The number 11,212 is linked to the name of the iconic polo shirt, the L1212. These NFTs depict a hypnotic looking crocodile, a clear homage to the Lacoste logo. Owners of these tokens will have access to exclusive experiences, benefits and dedicated products.

Circle’s Euro-pegged stablecoin arrives

After USDC, the dollar-backed stablecoin, Circle announced that a stablecoin pegged 1:1 to the euro is on the way. The new stablecoin will be called EUROC, and it is scheduled to be launched on the 30th of June 2022.

Euro Coin (EUROC) was built on Ethereum with the support of several partners from the crypto world such as Curve, Uniswap and Metamask. For all intents and purposes, EUROC will be an ERC-20 token. It will mirror USDC’s operating model: “designed to ensure stability, our Euro Coin is backed 100% by euros held in bank accounts, so it is always redeemable 1:1 in euros. EUROC, unlike USDC, will be entirely backed by cash and not by government bonds. The new stablecoin comes at a delicate time for this kind of product. After the collapse of UST, stablecoins have lost the confidence of many people. Will EUROC succeed in gaining credibility in the industry?

The record-breaking Paris Saint Germain fan token

The “PSG” token of Paris Saint Germain tops the football fan token charts with a market cap of over 20 million dollars! PSG continues to reach great heights. On the 14th of June it recorded a peak in sales volume of around $15.36 billion. This puts the Parisian club’s fan token ahead of those of Atletico Madrid, Juventus, AC Milan and FC Barcelona. Despite being far from its August 2021 ATH, PSG seems to be well liked by fans! PSG holders can vote on and suggest decisions concerning their favourite team, such as choosing the message to write on the captain’s armband or voting for the best goal of the season. PSG is a fan token of Socios, the platform built on Chiliz.

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