PSG to partly pay Lionel Messi in crypto tokens

The cryptocurrency craze has reached a point where even superstar footballers are being paid using the digital currencies. Crypto tokens are included in the financial package football club Paris Saint-Germain (PSG) offered to Lionel Messi who had recently signed a two-year deal with them.

PSG has explained that cryptocurrency '$PSG Fan Tokens' have been included in Messi's "welcome package". "The inclusion of the $PSG Fan Tokens in the player's welcome package instantly ties him with millions of Paris Saint-Germain fans around the world. The move further positions Paris Saint-Germain as one of the most innovative and avant-garde sports franchises in the world," noted the French football club.

Messi is expected to receive an annual salary of $41 million-plus bonuses, as per the deal signed with PSG. It has also been reported that Messi will get $30 million in the form of a signing-on fee, according to CNBC.

PSG stated that crypto token implementation comes as a great illustration of the way the club is constantly finding ways to increase and diversify its revenue streams and continues to develop as a global brand.

PSG announcement has led to a steep rise in the value of $PSG FanTokens, which the club had created with Socios.com back in 2020. The fan tokens were designed to help the french football club build a new fan community.

"The hype surrounding the latest signings in the club's busy summer transfer window created a huge surge of interest in $PSG Fan Tokens, with trading volumes exceeding $1.2 billion in the days preceding the move," stated the firm.

"Fully embracing Socios.com and $PSG Fan Tokens has proved a massive success for the Club. We have been able to engage with a new global audience, creating a significant digital revenue stream," said Marc Armstrong, Chief Partnerships Officer of Paris Saint-Germain.

Alexandre Dreyfus, CEO of Chiliz and Socios.com added, "Paris Saint-Germain are reaping the rewards of their bold approach and I believe this could be the start of a new trend as Fan Tokens and Socios.com play an increasingly prominent role across sport at the very highest level."

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