PSG uses cryptocurrency to hire Lionel Messi

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PSG: The signing of Lionel Messi by Paris Saint-Germain (PSG), announced on Tuesday (10), included a payment in cryptocurrencies. According to the French club, part of the “welcome package” to the former Barcelona player was paid in PSG Fan Tokens, a digital currency sold by the association.

The value of the “gloves” given to the Argentine ace has not been revealed, but it is around US$ 29 million to US$ 35 million (from R$ 151 million to R$ 182 million at the price of the day), according to Reuters . The Parisian team also did not detail the proportion of tokens used in the negotiation, saying only that it is a “significant” amount.

A large volume of sales of PSG Fan Tokens has been recorded in recent days, since rumors began to surface regarding Messi’s arrival in Paris. Cryptocurrency trading generated more than US$1.2 billion (R$6.2 billion) in the period, as revealed by PSG.

The club’s director of partnerships Marc Armstrong celebrated the movement recorded in the days prior to hiring. “We were able to engage with a new global audience, creating a significant digital revenue stream,” he told the news agency.

Fan tokens

Like bitcoin and other digital currencies, fan tokens are traded on stock exchanges. They are also subject to large price fluctuations, but these fluctuations usually have little connection to the field results of the teams involved.

Responsible for PSG’s cryptocurrency, the company Socios.com has already issued 20 million tokens to the fans of the French team since January last year. In addition to contributing financially to the team at heart, buyers are entitled to participate in some minor club-related decisions.

Milan (Italy) and Manchester City (England) are some of the other European teams that have bet on similar initiatives recently, seeking to earn new revenue from cryptocurrencies.

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