After his shocking departure from FC Barcelona, top soccer player Lionel Messi has joined the football club Paris Saint-Germain (PSG). After signing an exclusive contract with the Qatar-owned team, Messi was presented with ‘Fan Tokens’ that were included in his ‘Welcome Package’.
Messi signed a two-year contract with PSG after leaving Barcelona, where he had been since the age of 13. According to an exclusive report by Reuters, PSG explained that the tokens were part of the welcome package. They have not disclosed the amount, however, reports have estimated that the tokens are approximately valued at 25-30 million euros ($29-35 million).
Fan Tokens are a type of cryptocurrency that allows token holders to exert influence over the decisions of the club. The decisions are mostly minor and holders can vote through an app. They can be traded in exchange and have the characteristics of a typical cryptocurrency.
These tokens are becoming extremely popular in the football community with many clubs including English Premier League champions Manchester City and Italy’s AC Milan introducing their own fan tokens.
Soon after the reports of Messi joining PSG went viral, its fan token value skyrocketed to over 150% in just 5 days. PSG reported that they saw high trading volume exceeding $1.2 billion days before his joining and new sales generating over 30 million Euros.