Lionel Messi, the Argentinian soccer superstar, has opted to
receive cryptocurrency as part of his new contract signed with the
French club Paris Saint-Germain. The club revealed that the player will
receive crypto as part of his $30 million payment, as a “welcome
package” given to the player. The proportion of the crypto stash in his
payment was not disclosed, but the club stated it was a “significant”
portion.
Lionel Messi Gets Part of His Contract Paid in Cryptocurrency
Lionel Messi, the Argentinian soccer player, will receive
part of his contract payment in cryptocurrency, according to reports
from his new French club, Paris Saint-Germain. Messi, arriving at the
club after spending many years playing for the Spanish Barcelona soccer
team, will receive a part of an estimated $30 million in the fan token
of the new club as part of a welcome package offered as an incentive to
the player.
While the total amount of this welcome bonus that will be paid in
cryptocurrency has not been announced officially, the club told Reuters
that it was a “significant” amount of the total bonus. Also, as a result
of the buzz surrounding the arrival of Messi to the new club, the token
experienced a big increase in its trading volumes.
PSG Trading Volumes and Price Rises
The official fan token of the club has seen increased trading volume
and a rise in price as a result of the news and rumors of Messi coming
to the team. According to reports, the token’s trading volumes exceeded
$1.2 billion in the days leading up to his arrival. Also, the price
skyrocketed 130% in five amidst reports that indicated Messi could be
coming to the club.
The PSG fan token was launched in January 2020, as a part of the
Socios.com token platform, and had an initial price of 2 euros. The
token has a price
of $41.23 at the time of writing, rising significantly since its
issuance. These tokens give holders some kind of decision power in some
of the matters regarding the club.
Fan tokens are a new source of revenue that some clubs
have adopted in the last years with big success. Other clubs, like AC
Milan, and the Barcelona FC, have already issued their fan tokens to
capitalize on the relationship with its fan base. This was confirmed by Marc Armstrong, PSG’s Director of Partnerships, who stated:
We have been able to engage with a new global audience, creating a significant digital revenue stream.
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