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Lionel Messi’s PSG deal includes cryptocurrency fan tokens

Soccer icon Lionel Messi’s welcome package includes cryptocurrency fan tokens after signing a two-year deal with Paris Saint-Germain (PSG) on August 11 in Paris, France. The crypto fan tokens are estimated to be around €25 to €30 million. 

The PSG fan token’s price has reportedly increased ever since the news broke that Messi considered joining the French club. Although the club did not fully reveal the proportion of tokens in the financial package, Messi said that he had received a ‘large number.’

Between August 4 and August 10, the price of Qatari-owned PSG tokens surged over 100%, rising from $22.49 to $49.9.

‘The PSG token up 40% following the rumour of Lionel Messi joining the club. Fan Tokens represent Fan Sentiment. Clearly, more fans and users of Socios are interested,’ Chiliz’s CEO Alexandre Dreyfus remarked on the token’s price surge. 

At a press conference for Messi’s official move to PSG, CEO Nasser Al-Khelaifi stated that the soccer club may eventually reveal more details behind the deal, claiming that the world will be ‘shocked’.

The deal between Messi and PSG is expected to bring commercial revenues such as jersey sales. According to Socios.com, a platform that provides tokens for PSG and other clubs, fan tokens have earned approximately $200 million in 2021.

‘We have been able to engage with a new global audience, creating a significant digital revenue stream,’ PSG chief partnerships officer Marc Armstrong explained. 

Today, the PSG fan token’s market capitalization has reached more than $100 million. PSG currently holds a total of 20,000,000 tokens in which 1,288,396 have already been given to fans through Token Offering. 

Created by Scios, a fan token is a type of non-fungible tokens (NFTs) that allows its holders to have a say on minor decisions related to their clubs and access to exclusive content and games. With Lionel Messi’s acceptance of the cryptocurrency offer, it could have a positive influence on fan tokens, making NFTs’ rise on the market a phenomenon. 

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