Following the signing of a new contract with the Paris Saint-Germain (PSG) squad, Argentinian football sensation Lionel Messi has agreed to accept cryptocurrency PSG tokens as part of the compensation.
Messi signed a two-year contract with Paris Saint-Germain (PSG) on Tuesday, after he was released from his Spanish soccer team, FC Barcelona. Messi will be able to put his flexible contract into practise as soon as he enters the third year of his new contract.
According to estimates on CNBC, he will receive a $41 million yearly salary plus bonuses as a result of this new contract, as well as a $30 million signing fee as part of the deal.
Messi received a big number of $PSG tokens as part of his “Welcome Package” which was valued at roughly Euro 25-30 million ($2.9-35 million USD) and provided to him by Paris Saint-Germain. According to the club, it is not known what percentage of tokens are included in the bundle.
The cryptocurrency “$PSG Fan Tokens” was created in January 2020 by an app for football (soccer) lovers named Socios.com, which is based on the Ethereum blockchain. The $PSG token is a fan token, a tokenised asset that serves as proof of ownership or even membership in the Philadelphia 76ers.
Users can gain voting rights to influence the clubs that they support by creating Fan tokens that are specific to such clubs.
Various organisations are progressively becoming involved in the bitcoin craze. According to Socios.com, a cryptocurrency platform that gives tokens to PSG and other premier league clubs, the tokens will produce approximately $200 million in revenue for its partner clubs in 2021.
Alexandre Dreyfus, the CEO of Socios.com, stated the following in a statement:
“Fan Tokens and Socios.com play an increasingly prominent role across sport at the very highest level.”
This week’s price increase in Paris fan tokens has been attributed to speculation about a possible Messi transfer to the French club. There are approximately 30 million euros in new sales, with PSG accounting for the vast majority of them, at least 15 million euros each (at least 15 million euros).
According to data from CoinMarketCap, the market value of PSG’s token is around $123,165,140, a figure that has increased by more than 130 percent in just five days as a result of the support of football superstars such as Cristiano Ronaldo.
The Paris Saint-Germain Fan Token (PSG) was selling at $42.12, representing an increase of 11.16 percent in just 24 hours..
