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Lionel Messi’s PSG Deal’s crypto Twist: Fan tokens
PARIS — May 3, 2024 — When Lionel Messi signed with Paris Saint-Germain (PSG), the deal included an innovative aspect: fan tokens. This marked a notable foray into the cryptocurrency world for the footballer and the club, with a “welcome package” that comprised PSG fan tokens, a digital asset to enhance fan engagement. Messi received “a large number” of these tokens as part of his contract, solidifying his role as a pioneer in the integration of crypto within professional sports.Read on…
Lionel Messi’s Paris Saint-Germain Deal: A Crypto Twist
Lionel Messi’s arrival at Paris Saint-Germain (PSG) wasn’t just a major football transfer; it also marked a foray into the world of cryptocurrency. The French club confirmed that Messi’s “welcome package” included “PSG fan tokens,” a digital asset designed to enhance fan engagement.
The Token Details
- The Gift: Messi received a “large number” of PSG fan tokens as part of his contract.
- The Value: The exact value of the tokens was not disclosed.
- The Signing Bonus: The Argentine star’s total compensation for joining PSG is estimated to be around 30 million euros.
Did you Know?
Fan tokens are a type of cryptocurrency that gives holders certain benefits,such as voting rights on club decisions and access to exclusive content.
what are Fan Tokens?
Fan tokens are a form of cryptocurrency offered by companies like Socios.com. These tokens are designed for supporters of football clubs, including major teams like Manchester City, AC Milan, and juventus Turin. Owners of fan tokens often have the opportunity to participate in smaller club decisions. At PSG, token holders can participate in video conferences with players and surveys.
A World-First Premiere
PSG and Socios.com announced that Messi is the first football professional to be paid with tokens. Messi signed a two-year contract with PSG. In the days leading up to the proclamation, the value of PSG’s token surged by over 130 percent, reaching an all-time high of $60. However, according to CoinmarketCap, the value recently decreased by 10 percent to around $40.
Pro Tip
Cryptocurrency values can be highly volatile. Always research thoroughly before investing in fan tokens or any other digital asset.
the Underlying Technology
Cryptocurrencies are based on blockchain technology, wich allows transactions to occur directly between users without the need for traditional financial institutions.While some cryptocurrencies are used as a means of payment, many are primarily used for speculation and investment. These currencies are known for their significant price fluctuations. Socios.com reported that partner clubs have already generated almost $200 million through the sale of tokens this year.
Stadium Expansion Plans
Messi’s arrival has also fueled PSG’s plans to expand the Parc des Princes stadium. I love the Princes Parc, but it is important to enlarge the stadium for our fans and the future of the club,
said PSG President Nasser Al-Khelaifi to Europe1. The city of Paris supports plans for modernizing the stadium,which last underwent major changes in 1972.
expansion Details
The proposed expansion aims to increase the stadium’s capacity from 48,500 to between 55,000 and 60,000 seats. Due to technical and urban planning constraints, a larger capacity increase is not feasible. For comparison,the Stade de France in Saint-Denis,near Paris,can accommodate over 81,000 spectators. President Al-Khelaifi has discussed the stadium expansion with Mayor Anne Hidalgo.
