Lionel Messi’s highlight transfer from FC Barcelona to Paris Saint Germain (PSG) has made headlines globally this week.
Per Reuters, the football star’s transfer included a payment in cryptocurrency fan tokens as part of the player’s “welcome package.”
The numbers behind this payment were not disclosed, although it is seen as a big moment in the evolution of digital assets and sport.
What are crypto fan tokens?
Crypto fan tokens are similar to other cryptocurrencies like Bitcoin or Ethereum, although these are typically issued by a sports franchise.
PSG’s fan token—which trades under the ticker symbol $PSG—was launched in partnership with Socios in January 2020. The token serves as a means for fans to interact with the club and participate in interactive online polls.
In its earliest days, it allowed fans to choose an inspirational captain’s armband message.
PSG’s fan token
Messi’s groundbreaking transfer to PSG has worked wonders for the club’s fan token.
Last week, PSG—the token—was valued at approximately $22. On August 10, the day Messi’s deal was officially announced, the token’s value soared to $58, almost tripled its value from the week before.
It has since fallen again to $41.
