Cryptocurrency’s rising interplay with sports is having a new and interesting episode. This time, Lionel Messi’s new contract with French club Paris Saint-Germain (PSG) includes cryptocurrency fan tokens.
The Lionel Messi PSG contract stipulates the athlete will receive a cryptocurrency fan token package as part of the deal. The famous footballer agreed to the deal following his move to Paris Saint-Germain after a 21-year spell at Barcelona.
Messi’s Shocking Move
Barcelona management sent some shock waves through the football world last week. They revealed their intentions to let go of the six-time Ballon d’Or winner, claiming they couldn’t afford to keep him. However, the Parisian club, PSG, quickly moved to secure the services of the footballer who is regarded as the “greatest player of all time.”
Messi, who had been with Barcelona since the age of 13, has now signed a two-year contract with Paris Saint-Germain. He has an option to extend the crypto-inclusive contract for an extra year. According to reports, he will receive €35 million ($41 million) per year in wages.
Part of the Lionel Messi PSG contract included a welcome package of fan tokens estimated to be worth between $29 to $35 million. The crypto space is intrigued by the potential of fan tokens to impact contract negotiations for other athletes. As Socios.com CEO Alexandre Dreyfus notes, “I believe this could be the start of a new trend as fan tokens and Socios.com play an increasingly prominent role across sport at the very highest level.”
As reported, $PSG trading volumes swelled to more than $1.2 billion. This was a few days before the player’s move to PSG but after rumors of his move became public.
Chiliz is the blockchain firm for $PSG, the club’s fan token which runs on Socios.
Besides, the club knew signing Messi was an avenue to bring in a windfall of commercial revenues, such as jersey sales. After putting up 150,000 Messi jerseys for sale around 10 p.m. on the club’s website, the jerseys were sold out in just about seven minutes.
Chiliz ($CHZ) is an ERC-20 utility token that serves as a digital currency for Socios.com, a platform featuring many sports organizations that have created and launched fan tokens. $CHZ tokens are used by fans to purchase the initial wave of fan tokens released during a FTO (Fan Token Offering).
Fan token holders can enjoy making fan-led decisions through the mobile voting platform. Other perks include meeting other passionate fans, forums, exclusive promotions, games, and VIP experiences.
As of the time of publication, Chiliz’s price was $0.364259 with a 24-hour trading volume of $352,032,468. CHZ’s price also fell by 2.7% over the last 24 hours. Besides, it has a circulating supply of 5.3 billion CHZ coins and a total supply of 8.89 billion.
Join us on Telegram to receive free trading signals.
For more cryptocurrency news, check out the Altcoin Buzz News YouTube channel.