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).
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.