Crypto News
13 Aug 2021

What has Lionel Messi’s PSG deal got to do with cryptocurrencies?

Savan

Football and cryptocurrency? The world’s deadliest combination besides coke and mentos. And who better than Lionel Messi to bring the two crazy worlds together. Die-hard football fans and crypto aficionados have something in common to cheer upon this week. 

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Lionel Messi’s Barcelona Exit 

Wait, how’s the 34-year old Argentinian footballer exiting Barcelona news for a crypto audience? Well, we’ll get to that shortly. First, we wouldn’t miss any opportunity to rant about football for a bit.  

Messi’s 21-year love affair with Barcelona ended on August 5th, 2021. The world’s greatest footballer exited after a teary-eyed press conference saying: ‘The club did not want to go into more debt.’ This broke the heart of every football fan around the world. 

However, it’s not all that blue. Lionel Messi is moving to Paris to play for France’s most dominant club – Paris Saint-Germain (PSG) in a €729,000 a week contract. And there’s more to it. Messi’s grand welcome package will include cryptocurrencies as part of the surprise deal. 

PSG Tokens Rally after Messi’s Announcement 

In a blazing attempt to build a vibrant fan community, PSG announced cryptocurrencies last year. The club created the $PSG Fan Tokens in January 2020 by partnering with Socios.com, a crypto platform. 

The tokens were initially issued only to fans. But like other cryptocurrencies, fan tokens can be traded on exchanges. 

The value of the token rose over 130% in the last 5 days amidst news of Messi joining PSG. Besides, the new sale of PSG tokens generated nearly 30 million Euros as reported by Reuters. The trading volume of the token exceeded $1.2 billion in just a few days. 

How are Cryptocurrencies Shaping the Game? 

The decentralized nature of cryptocurrencies is helping the world become equitable. 

Like other walks of life, football is much more than a few wealthy individuals/corporations that own and control the club. Football is a sport that belongs to everyone. Most notably, it belongs to the people who keep the sport alive – the fans.  

Today, fan tokens give people their rightful say. It gets them involved in decisions surrounding the club. By using a simple app, fans can decide from what message goes in the captain’s armband to who the winners of the end-of-season awards are. 

It will be interesting to watch how Messi, the legend with over 34 trophies to his name, will shape the future of football and the world of cryptos.

P.S: KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

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Savan

Content Writer

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