Lionel Messi PSG Contract Includes Payment In Crypto Fan Tokens: Report

Argentinian soccer legend Lionel Messi is supposed to have part of his salary paid in crypto fan tokens, according to sources close to the matter.

What Happened: Following Messi's move to French football club Paris Saint-Germain, Messi’s financial package includes payment in the form of crypto fan tokens, reported Reuters earlier today.

Although the exact financial compensation details of his two-year contract with the soccer team remain unknown at the time of writing, the crypto fan tokens involved in the contract are likely to be the Paris Saint-Germain Fan Token (CRYPTO: PSG).

The PSG token rallied 13% to a price of $42.58 in a span of 30 minutes after the news first began circulating on social media.

PSG’s fan token hit a four-month high of $61.23 on Aug. 10 when Messi confirmed that he would be signing a contract with the French club.

Month-to-date, the PSG fan token is up by 141% and has a fully diluted market cap of $805 million.  

The token is offered by the Chiliz blockchain (CRYPTO: CHZ) powered by the Socios fan token platform. To purchase these fan tokens, users must first purchase the CHZ token on a cryptocurrency exchange and then exchange it for the fan tokens of their choosing.

Earlier this year, the CHZ token saw gains of 300% over the span of one week, which was incidentally also driven by Paris Saint-Germain's progression into the quarter-finals of the Champions League.

During this time, more than $550 million worth of digital fan tokens were traded across cryptocurrency exchanges globally.