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Wednesday, May 1, 2024

Football industry embraces crypto as Messi helps ‘fan tokens’ take off

Lionel Messi is understood to have received payment in fan tokens on signing for PSG.

PARIS: When Paris Saint-Germain signed Lionel Messi, the salary package included something previously unheard of for a player — a one-off payment, understood to be worth around one million euros ($1.15m), made in PSG ‘fan tokens’.

It was the result of a partnership signed by the French giants in 2018 with Socios.com which sees fans use a cryptocurrency called ‘chiliz’ to buy tokens allowing them to vote on issues related to the club.

These issues have tended to be rather mundane, for example Juventus asking what music they should play in their stadium, but the concept has caught on.

The company has grown quickly since signing its first partnerships with PSG and Juventus to being involved with 56 football clubs and…

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