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Lionel Messi’s move to Paris Saint-Germain included payment in tokens from cryptocurrency fans, the club confirmed on Thursday, offering another big-name endorsement for new digital assets.
Messi, 34, left Spain’s Barcelona team and signed a two-year contract with PSG on Tuesday, with an option for a third year.
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PSG said in a statement that the tokens included in their “welcome package”, or signing fee, were provided by Socios.com, which is the club’s fan token provider.
The club did not say what percentage of the deal included the chips, but said they received a “large number”. He also did not disclose the overall financial package.
Fan Tokens are a type of cryptocurrency that allows holders to vote on mostly minor decisions related to their clubs. Among the clubs that will launch chips this year are English Premier League champions Manchester City and AC Milan in Italy.
Like bitcoin and other digital currencies, fan tokens can be traded on the stock exchange. They also share in common with other cryptocurrencies a tendency for abrupt price fluctuations, leading some regulators to issue warnings to investors about digital assets.
Still, several business and entertainment personalities have backed crypto assets, with Tesla boss Elon Musk, Twitter founder Jack Dorsey and rapper Jay-Z among those showing their support for bitcoin.
PSG have said there has been a high volume of trading of their fan chips after reports were released of Messi’s move to the club.
“The hype surrounding the latest signings in the club’s busy summer transfer window created huge interest in $ PSG Fan Tokens, with transaction volumes exceeding $ 1.2 billion in the days leading up to the move,” he said. he declared.
Price movements of fan tokens may have little connection to performance or results in the field.
PSG’s token, which has a market cap of around $ 52 million, has climbed more than 130% in just five days amid speculation that Messi will arrive at a record high of over $ 60 on Tuesday. They were last down 10% to around $ 40, according to the CoinMarketCap website.
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