August 12, 2021, | AtoZ Markets–Giant Soccer star, Lionel Messi, has signed a new contract at Paris St Germain. Part of the payment includes cryptocurrency fan tokens. This is the last great support that the new digital assets receive in the world. Two Global Giants Joined: Lionel Messi and Fan Tokens.
According to Reuters, PSG said on Thursday that the tokens were included in its “Welcome Package.” PSG Club did not disclose the proportion of tokens in the package, but said the amount is “significant.”
The experts estimate that the value of the payment in crypto assets was 25-30 million euros, which corresponds to 29-35 million dollars approximately.
What Are the Fan Tokens?
- Fan tokens are a type of cryptocurrency.
- Allows owners to vote on minor decisions related to their clubs.
- Fan tokens can be traded on exchange platforms, Like bitcoin and other digital currencies.
- They share a tendency to sudden price changes with other cryptocurrencies
Tokens are increasingly seen as a source of new income in financial markets.
Digital Assets Are Becoming Trendy Among Sports Clubs
Sports teams are joining the digital asset trend. Meanwhile, fan tokens are a type of cryptocurrency that allows fans to vote on minor decisions related to their sports clubs.
Clubs that have launched tokens this year include Manchester City, the reigning Premier League champions, and Italy’s AC Milan. Likewise, Barcelona launched one last year.
PSG said there had been a high volume of trading in its fan tokens after reports that Messi was set to join the club. Soccer club said, that trading volumes exceeded US$1.2 billion.
“We have been able to engage with a new global audience, creating a significant digital revenue stream,” said Marc Armstrong, PSG’s chief partnerships officer.
PSG Fan Token Movements
- PSG’s token has a market capitalization of about $ 52 million.
- The price soared over 130% in just five days amid speculation over Messi’s arrival.
- The price makes an all-time high of over $ 60 on Tuesday.
- They were last down 10% at about $ 40, according to the CoinMarketCap website.
Digital Assets Are Taking Over the World
- Firstly: Soccer teams are increasingly looking for new investment options.
- Secondly: Lionel Messi is betting on digital assets. Also, the crack Lionel Messi is a giant of soccer, and now, also is a giant of cryptocurrencies.
- In conclusion, Digital assets are here to stay and are a great tool to invest in.
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