Cryptocurrency at the service of PSG.
The capital club will use its Fan Tokens, a kind of cryptocurrency created by the club, to pay the Argentine star.
Lionel Messi has received a large number of these "chips" to supplement his signing bonus.
Explanations.
What are Fan Tokens?
The principle is very similar to a classic cryptocurrency.
The Parisian club issues tokens to associate supporters, owners of tokens, in the life of the club.
Thus, PSG fans pay to buy their tokens on a mobile application and in exchange, they can choose the goal of the season, the music played in the stadium, or even receive personalized videos from the players.
The capital club embarked on this new means of financing in January 2020.
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: Lionel Messi becomes first player in the world to receive Fan Tokens as part of signing package with @ PSG_inside. $ PSG ⚡️ $ CHZhttps: //t.co/4Fzm6HGTFG
- Socios.com (@socios) August 12, 2021
In total, nearly 20 million chips have been put into circulation by the club.
In order to launch its virtual currency, PSG has chosen to join forces, in 2018, with the Maltese start-up Chiliz, owner of
Socios.com
, the platform that issues “$ PSG Fan Tokens”.
"This could be the start of a new trend, fan tokens and Socios.com play an increasingly important role in sport at the highest level", explains the CEO of the two structures, Alexandre Dreyfus, in the press release. .
Messi's arrival has pushed the Token coast up
The “$ PSG Fan Tokens” work as in a traditional market.
The value of these chips necessarily depends on supply and demand which vary, themselves, depending on the results of the club, the enthusiasm around PSG ... And therefore the arrival of a superstar like Lionel Messi.
"The enthusiasm around the latest club signings during this summer market has created an increase in interest around PSG Fan Tokens, with a transaction volume exceeding $ 1.2 billion in the days preceding his arrival," according to a club press release.
For the first time for a signing of this magnitude, Leo Messi was awarded numerous $ PSG Fan Tokens.
🤝 @Socios #PSGxMESSI
- Paris Saint-Germain (@PSG_inside) August 12, 2021
Information that confirms the figures of the cryptocurrency price analysis platform, CoinGecko.
Over the last thirty days, the price of "$ PSG Fan Tokens" has increased by 150%.
The price of a token would have dropped from just over $ 20 a week ago to $ 41 on Thursday.
The total capitalization of the Parisian cryptocurrency has climbed to 144 million euros, far ahead of other football clubs like FC Barcelona (66 million euros).
A share of his signing bonus
“The $ PSG Fan Tokens have been a great success for the club.
We have been able to engage with a new global audience, creating a significant source of digital revenue, ”said Marc Armstrong, PSG Partnerships Manager.
The CEO of Chiliz Alexandre Dreyfus congratulates him, the PSG which “is harvesting the fruits of a daring method.
"
PSG has therefore concluded the first signature of a player of this profile with cryptocurrency, according to a press release from the club.
To complete his signing bonus, Lionel Messi received a large number of "$ PSG Fan Tokens", the equivalent of a variable part of a salary that would vary depending on the results of the club.
A way to supplement the 41 million euros per year that the Argentine star will receive.