Soccer Superstar Lionel Messi Gets Part of His Contract Paid in Cryptocurrency

Aug 14, 2021 | Bitcoin News | 0 comments

soccer-superstar-lionel-messi-gets-part-of-his-contract-paid-in-cryptocurrency

Lionel Messi, the Argentinian soccer superstar, has opted to receive cryptocurrency as part of his new contract signed with the French club Paris Saint-Germain. The club revealed that the player will receive crypto as part of his $30 million payment, as a “welcome package” given to the player. The proportion of the crypto stash in his payment was not disclosed, but the club stated it was a “significant” portion.

Lionel Messi Gets Part of His Contract Paid in Cryptocurrency

Lionel Messi, the Argentinian soccer player, will receive part of his contract payment in cryptocurrency, according to reports from his new French club, Paris Saint-Germain. Messi, arriving at the club after spending many years playing for the Spanish Barcelona soccer team, will receive a part of an estimated $30 million in the fan token of the new club as part of a welcome package offered as an incentive to the player.

While the total amount of this welcome bonus that will be paid in cryptocurrency has not been announced officially, the club told Reuters that it was a “significant” amount of the total bonus. Also, as a result of the buzz surrounding the arrival of Messi to the new club, the token experienced a big increase in its trading volumes.

PSG Trading Volumes and Price Rises

The official fan token of the club has seen increased trading volume and a rise in price as a result of the news and rumors of Messi coming to the team. According to reports, the token’s trading volumes exceeded $1.2 billion in the days leading up to his arrival. Also, the price skyrocketed 130% in five amidst reports that indicated Messi could be coming to the club.

The PSG fan token was launched in January 2020, as a part of the Socios.com token platform, and had an initial price of 2 euros. The token has a price of $41.23 at the time of writing, rising significantly since its issuance. These tokens give holders some kind of decision power in some of the matters regarding the club.

Fan tokens are a new source of revenue that some clubs have adopted in the last years with big success. Other clubs, like AC Milan, and the Barcelona FC, have already issued their fan tokens to capitalize on the relationship with its fan base. This was confirmed by Marc Armstrong, PSG’s Director of Partnerships, who stated:

We have been able to engage with a new global audience, creating a significant digital revenue stream.

What do you think about the cryptocurrency payment that Lionel Messi is receiving in its new contract? Tell us in the comment section below.

News Source from news.bitcoin.com

Related Articles

Permissioned DeFi platform Aave Arc gears up for launch

Permissioned DeFi platform Aave Arc gears up for launch

Aave Arc, a permissioned version of the popular DeFi lending platform Aave, is getting ready for its first deployment. Fireblocks, an institutional custody firm, has made a proposal to Aave's governance forum for it to be the first whitelister for when it is deployed....

Morgan Stanley doubles exposure to Bitcoin through Grayscale shares

Morgan Stanley doubles exposure to Bitcoin through Grayscale shares

The investment firm has increased its shares of GBTC by more than 105% since April. Major U.S. investment bank Morgan Stanley has more than doubled its shares of Grayscale Bitcoin Trust since April.According to a report from the U.S. Securities and Exchange...

Pin It on Pinterest

Share This