Lionel Messi

Lionel Messi Enters the Crypto World Following his Transfer to PSG

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The transfer “welcoming” package of Lionel Messi, the worldwide football star to PSG, also included a payment in the club’s Ethereum-based cryptocurrency, $PSG Fan Tokens. The French football club has already confirmed this statement – yet another piece of bullish news for the crypto world.

Following his departure from Barcelona, Lionel Messi is expected to receive a salary of around $41 million-plus bonuses, from his new team, Paris Saint-German. Upon signing, the star instantly received a welcoming gift of $30 million.

Right after he signed, PSG mentioned that Lionel Messi will also be receiving tokens of the club’s own cryptocurrency, $PSG Fan Tokens. They did not mention the exact amount but stated that it is a “significant” one, with various media websites reporting that it’s somewhere between 25 to 30 million euros.

Source: Tradingview

As you would probably expect, the price of PSG’s cryptocurrency has skyrocketed by over 100% amidst the speculation that the world-famous football player was going to sign a contract with the French team. Shortly after the announcement, $PSG Fan Token hit a record price of almost $60 USD.

The $PSG Fan Token has a market cap of $52 million, and just a few days before the Argentinian player signed, the trading volume was over $1.2 billion

After the wave, the football club’s crypto is now trading steadily at roughly $30 USD.

What is the Ethereum-based $PSG Fan Token crypto?

Paris Saint-German has decided to step up their game and enter the crypto world, creating their own cryptocurrency token. It is a token based on the Ethereum blockchain, like many others.

The PSG Fan Token is a crypto that fans can buy in order to get various benefits in the club – those include taking part in various decision-making processes, through gaining voting rights based on how many tokens they own. Such decisions can include, among other benefits, choosing destinations for a new tour of the team, voting on the goal of the year as well as different awards included in each season end.

Just as Bitcoin and any other cryptocurrency, $PSG Fan Token can also be traded and is listed on various cryptocurrency exchanges. Bear in mind that the price of this token can fluctuate tremendously based on the players’ performances, new transfers, and many other unpredictable stats. If you decide to make an investment in the club’s token, we advise you to keep all those things in mind.

Lionel Messi – How does this affect the crypto world? Can $PSG Fan Token help maintain this bull run?

Any piece of news that involves a world-known celebrity such as Messi and a cryptocurrency is generally considered bullish. There are millions of fans around the world who might have never been involved in the crypto scene before, but now, thanks to Lionel Messi’s transfer, might become interested.

This, however, isn’t to say that it is the main reason for the current bull run – it’s most likely just a contributor. Generally speaking, the more people hear about crypto and become interested, the better.

PSG isn’t the only team to create their own tokens. Reportedly, many world-known teams such as Manchester City or Arsenal – or even from various other leagues, such as AC Milan, are set to join the crypto scene and get their own tokens this year. Barcelona has also launched similar crypto last year.

The tokens are sold by a third-party company, called Socios.com. The company offers crypto services to many football clubs, declaring that they have generated over $200 million in profits for its partners.

Other athletes that have received payments in cryptocurrency

Lionel Messi isn’t the first athlete to receive a payment for his services in crypto, and surely won’t be the last. Recently, a lot of athletes have begun getting paid either their full salaries or bonuses, in various cryptocurrencies. Here are a few examples:

Russell Okung – paid $13 million in Bitcoin

Last year, it was reported that Carolina Panthers will be paying half of Russell Okung’s salary in Bitcoin (to a total of $13 million).

Trevor Lawrence – the NFL star getting paid in cryptocurrency

Earlier in April, USA Today announced that the NFL star will be receiving a part of his bonus in cryptocurrency, following his partnership with Blockfolio.

Saquon Barkley – $10 million in Bitcoin for his endorsement deals

Yet another NFL star, Saquon Barkley, is jumping on the crypto board. The New York Giants player has announced that from now on, all of his endorsement deals will be paid in Bitcoin.

Whaletank Team

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