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Lionel Messi receives crypto as part of PSG welcome package

Published 08/13/2021, 07:30 AM
Updated 08/13/2021, 07:30 AM
Lionel Messi receives crypto as part of PSG welcome package

Lionel Messi’s move from Barcelona to Paris Saint-Germain has fueled a new wave of excitement in the crypto community as the football star received crypto fan tokens as part of his welcome package.

Messi’s welcome package and bonus summed up to €25-30 million ($29-35 million), a large part of which were paid in the club’s fan tokens (PSG tokens). This is the first time the club is making such a deal with a player, indicating a growing adoption of cryptocurrencies.

Fan tokens make it possible for supporters to buy a club’s merchandise and also participate in club-selected decisions. The tokens are provided by Socios.com via its sister company Chiliz blockchain and are now viewed as a new source of revenue for sports teams.

Although PSG is one of the first football clubs to launch fan tokens, other clubs like Manchester City, AC Milan, and Barcelona have their own fan tokens.

Messi’s move to France has boosted the performance of the PSG token, pushing its trading volume to nearly $300 million within 24 hours. As of press time, the digital asset was trading at $41.87 after setting a 24-hour high of $46.97.

With Messi now holding cryptos, he has joined a list of celebrities like Kanye West, Serena Williams, Mike Tyson, and more recently Busta Rhymes who have gained exposure to digital currencies.

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