Lionel Messi's PSG package includes payment in crypto Fan Tokens

Cryptocurrency it seems is all the buzz nowadays and in recent times, football (soccer) clubs and nations have also started embracing it.

In a new development related to that, French football club Paris Saint-Germain (PSG) - which has been in the headlines recently for signing celebrated soccer player Lionel Messi - has announced today that part of the former Barcelona forward's pay package will include the club's digital Fan Tokens ($PSG).

Messi holding his new No 30 PSG jersey
Image: PSG

The deal is initially for a two-year period which may be extended for a third. During this time, Messi will be paid $41 million annually plus bonuses. PSG however hasn't stated the amount of FTO share that will be the part of that package.

For those wondering, Fan Tokens (FTO) was created by a company called Socios and provides the fans voting rights in some minor affairs and decisions, or access to exclusive merchandise, and such. Here's how Socios itself defines the FTO:

Fan Tokens are digital assets that represent your ownership of a voting right and give you access to earn unique club-specific rewards and experiences. Fan Tokens are fungible & your ownership of them is what gives you the ‘license’ to vote on team decisions & compete for goods, such as VIP experiences, exclusive merchandise, tickets etc.

Fan Tokens aren’t about transaction, they are about ownership as a utility, which gives you access to a global community of fandom, rewards & team influence.

The Fan Tokens by Socios are powered by the chiliZ ($CHZ) utility tokens based on Ethereum's ERC20 protocol and currently the $PSG FTO is trading for around US$40, which is the highest among all the other FTOs. Somewhat expectedly, the price for $PSG certainly seems to have gone up after the Messi deal.

You can find PSG's official press release here.

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