Fan Tokens Are A Part Of Lionel Messi’s PSG Transfer Contract

SNIPPETS

  • Lionel Messi’s transfer to French club Paris St Germain included a payment in cryptocurrency fan tokens
  • The tokens included in his “welcome package,” or signing on fee, were delivered by Socios.com
  • France based soccer correspondent for CBS Sports Golazo shared a brief contract of Messi’s transfer which largerly includes fan token.

Lionel messi
Lionel Messi

According to a source close to the situation, Argentine soccer player Lionel Messi’s transfer to French club Paris St Germain included a payment in cryptocurrency fan tokens, delivering yet another high-profile endorsement for new digital assets.

On Tuesday, Messi, 34, announced his departure from Barcelona and signed a two-year contract with PSG, with a third-year option.

Here’s a fairwell video for Messi from the football club Barcelona.

The tokens included in his “welcome package,” or signing on fee, were delivered by Socios.com, the club’s fan token provider, according to a statement released by PSG.

The club did not say how much of the deal was made up of tokens, but he did say he received a “Large number.” It also hasn’t revealed the total financial package.

France based soccer correspondent for CBS Sports Golazo shared a brief contract of Messi’s transfer which largerly includes fan token.

Following news of Messi’s departure to PSG, the club reported there was a huge volume of trading of its fan tokens.

“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,” THe club said.

WHAT ARE FAN TOKENS

Fan tokens are a kind of cryptocurrency that allows holders to vote on a variety of minor club decisions. Manchester City, the English Premier League champions, and AC Milan, the Italian champions, are among the clubs launching tokens this year.

Fan tokens, like bitcoin and other digital currencies, are traded on exchanges. They also share a tendency for extreme price swings with other cryptocurrencies, prompting several financial regulators to issue investor cautions.

ABOUT PSG FAN TOKEN

PSG’s token, which has a market capitalization of approximately $52 million, rose more than 130 percent in only five days amid speculation of Messi’s coming, reaching an all-time high of more than $60 on Tuesday.

According to the CoinMarketCap website, they were recently down 10% at around $40.

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