A few days ago football fans all over the globe were devastated as Lionel Messi left his club – FC Barcelona and shifted to French club Paris Saint-Germain(PSG) FC. Barcelona got struck by a severe financial blow, resulting in Lionel Messi signing a contract with PSG. The club revealed that Lionel Messi will receive a major part of his contract in cryptocurrency, which is about a $30 million payment, as a “welcome package” given to the player.
Lionel Messi Gets Paid in Cryptocurrency in PSG
At 34, Argentinian Football superstar Lionel Messi had to leave FC Barcelona. Although, both parties were ready to sign a new contract. However, the club dealt with a severe financial blow, due to which the club could not sign him again and had to let him go.
Lionel Messi announced on August 9, 2021, that after being a player of FC Barcelona for 21 years he is signing a new contract with the French club, Paris Saint-Germain FC. Although the exact amount of the contract is not revealed to the public [ as per sporting news, “ Reports state that Messi’s two-year contract with PSG gives him a $41 million annual net salary, including bonuses and an option for continuing for the third year.]
Lionel Messi was welcomed to the club, with a bonus of $30 million. The incentive was paid to Lionel Messi completely in cryptocurrency fan tokens. The cryptocurrency fan tokens had been provided by Socios.com who is PSG’s fan token provider.
The club also revealed that the star football player -Lionel Messi- will be partly paid in cryptocurrency. No reports have yet revealed the exact percentile of ‘part’ of his contract which will be paid in crypto tokens. But it is said a “significant portion” of his contract will be paid in cryptocurrency.
The excitement created by Lionel Messi’s arrival in the club was followed by the surge in the valuation of PSG fan tokens.
PSG Fan Tokens Price Explode
What are fan tokens?
Fan tokens are digital assets and have similar qualities to cryptocurrencies such as Bitcoin, Ethereum &c. They can be exchanged and traded, their prices fluctuate and may vary vastly overnight considering the situations created around them. Fan tokens are bought with fiat money. These fan tokens “are created by a crypto platform called Socios and allows fans to gain access to exclusive club content, games”, with the help of these tokens fans can influence the decision in the clubs the token belongs to.
“The coins are there to create a link between the fans and the club, and it’s the first time we have used them in this way,” the Parisians said in a statement.
“The hype surrounding the latest signings in the club’s busy summer transfer window created a huge surge of interest in $PSG Fan Tokens, with trading volumes exceeding $1.2 billion in the days preceding the move,” declared by reports by PSG.
The market cap of PSG fan tokens was about $52 million. The prices rallied up to 130% creating an all-time high valuation within just five days of speculations of Lionel Messi’s arrival.
Lionel Messi seems to be the new icon for cryptocurrency payment. Let us look forward to the future and hope more such iconic superstars take a step forward to influence revolution in the digital asset market and space.