Lionel Messi is reportedly to be paid in cryptocurrency under his transfer to Paris Saint Germain.
The Argentine soccer play is to be paid around US$110mln before bonus – US$41mln per year in wages plus a US$30mln signing on fee – and some portion of the funds will be paid in a cryptocurrency pinned to the Paris Saint Germain brand.
The ‘$PSG Fan Tokens’ via the Socios platform, which are powered by the Chiliz (CHZ) blockchain, that’s designed to enable fan engagement in sports and entertainment brands.
$PSG is up around 30%, to US$40.92, in the same week as Messi was linked to and subsequently agreed to sign for the Paris club (in the same period crypto sentiments generally turned positive with Bitcoin and Ethereum each up more than 15%).
The token was launched in January 2020 with a launch price of EUR2 in a ‘Fan Token Offerings’. Holders of the fan tokens can participate in polls, online engagement and rewards programmes
Fan tokens are bought through an exchange with the CHZ crypto.
CHZ is up 33.8% in the past week.