Lionel Messi, the Argentine soccer superstar, has chosen to receive cryptocurrency as part of his new contract with the French club Paris Saint-Germain. The club announced that the player will receive crypto as part of their $ 30 million payment as a “welcome package” to the player. The percentage of the crypto supply in its payment was not disclosed, but the club stated that it was a “significant” portion.
Lionel Messi receives part of his contract paid for in cryptocurrency
Lionel Messi, the Argentine soccer player, will receive part of his contract payment in cryptocurrency, according to reports from his new French club Paris Saint-Germain. Messi, who joins the club from Barcelona after many years for the Spanish soccer team, will receive a portion of an estimated $ 30 million as a fan token from the new club as part of a welcome package offered as an incentive to the player.
While the total amount of this welcome bonus, which is paid out in cryptocurrency, was not officially disclosed, Club Reuters told Reuters that it was a “substantial” amount of the total bonus. Also as a result of the excitement surrounding Messi’s arrival at the new club, the token saw a sharp increase in its trading volume.
PSG trading volume and price increases
The club’s official fan token has seen increased trading volume and price increase due to the news and rumors that Messi is joining the team. The token’s trading volume reportedly exceeded $ 1.2 billion in the days leading up to its arrival. Also, the price shot up 130% on five occasions after reports were reported suggesting Messi might join the club.
The PSG fan token was launched in January 2020 as part of the token platform Socios.com and had an initial price of 2 euros. The token is priced at $ 41.23 at the time of writing and has increased significantly since it was issued. These tokens give the holders some sort of decision-making power on some matters that affect the club.
Fan tokens are a new source of income that some clubs have taken over with great success in recent years. Other clubs like AC Milan and FC Barcelona have already issued their fan tokens to benefit from the relationship with their fan base. This was confirmed by Marc Armstrong, PSG’s Director of Partnerships, who stated:
We were able to connect with a new global audience and create a significant digital revenue stream.
What do you think of the cryptocurrency payment Lionel Messi is getting in his new contract? Let us know in the comments section below.
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