Lionel Messi, the Argentine superstar, shocked the football world this week by joining Paris Saint-Germain from FC Barcelona (PSG). Messi, widely considered as one of the greatest footballers of all time, is expected to earn $41 million per year at PSG. Messi has gotten a “large number of $PSG Fan Tokens,” according to PSG.
PSG collaborated with cryptocurrency platform Socios.com to produce these fan tokens in January 2020. Those who own crypto fan tokens can utilize them to vote on certain — often minor — choices made by the club. It’s a strategy for increasing fan involvement with the team.
PSG isn’t the only team using cryptocurrency coins. In the previous year or two, Manchester City, AC Milan, and even Barcelona have all introduced them. They can be a source of cash for teams. Socios.com is the primary partner of the clubs on this, and it says that its partner clubs have earned close to $200 million this year.
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.” as per PSG.
“Fully embracing Socios.com and $PSG Fan Tokens has proved a massive success for the Club. We have been able to engage with a new global audience, creating a significant digital revenue stream.” said Marc Armstrong, Paris Saint-chief Germain’s partnerships officer.
“Paris Saint-Germain are reaping the rewards of their bold approach and I believe this could be the start of a new trend as Fan Tokens and Socios.com play an increasingly prominent role across sport at the very highest level.” Alexandre Dreyfus, CEO of Socios.com, said.