Argentinian soccer superstar Lionel Messi, who is considered one of the greatest players of all time, who made waves earlier this week after transferring from his long-time Spanish club Barcelona to French club Paris Saint Germain (PSG), has received a payment package that includes cryptoassets.
According to a report by Reuters, the negotiations for Messi’s new contract included a signing fee paid in the club’s cryptocurrency fan token. A representative confirmed the report with Reuters, saying the tokens were included as part of a “welcome package,” which other media reports have estimated to be worth $29 – $35 million.
While the club did not disclose what proportion of Messi’s package was paid in cryptoassets, the representative said the fan tokens were worth a “significant” amount.
The fan tokens, which have become popular in different leagues around the globe including Manchester City and AC Milan, allow holders to vote on minority decisions related to the club. Socios.com, the company that provides tokens for PSG and other clubs, has said that its fan tokens have generated around $200 million for partner clubs so far in 2021.
PSG confirmed there had been a spike in the trading of its fan token following reports that Messi would be joining the team, with $PSG token trading volume exceeding $1.2 billion in the week leading up to the event.
Marc Armstrong, PSG’s chief partnerships officer, said the club was already seeing the benefits of crypto fan token:
We have been able to engage with a new global audience, creating a significant digital revenue stream.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.