The deal does not include paying Messi in cryptocurrency. Last year Messi left FC Barcelona and signed a contract with Paris Saint-Germain and the deal was to be paid in cryptocurrency.
Popular football player Lionel Messi has signed a $20 million deal to be the brand ambassador of digital fan token firm Socios. Under this deal, Messi, the captain of Argentina and the main player of French club Paris Saint-Germain, will be the brand ambassador of this crypto exchange for three years. Messi will participate in Socios’ promotional activities ahead of the Football World Cup to be held in Qatar later this year.
Firms associated with the rapidly growing crypto industry in the past few years are trying to rope in popular players from various sports. According to a Reuters report , the deal does not involve paying Messi in cryptocurrency. Last year Messi left FC Barcelona and signed a contract with Paris Saint-Germain and the deal was to be paid in cryptocurrency. Socios On associating with Socios, Messi said, “Fans should get recognition for their support and opportunities to impress their favorite teams. With Socios the fan experience grows. I am proud to be associated with Socios. ”
Socios has welcomed Messi by posting a video about this deal. The firm’s website describes fan tokens as a limited number of digital assets held in a secure ledger on the Ethereum blockchain. Buyers holding Fan Tokens get voting rights and other perks to influence team decisions. However, voting is restricted to the design of the team bus or the music of the club.
Such tokens help the club generate revenue without giving them a share in ownership. Paris Saint-Germain is one of the football teams in Europe that are already on the exchange. Its fan token is worth more than $13. There are over 130 sports teams available on the Socios Marketplace. As the business related to cryptocurrencies grows, the firms in this segment have also increased their activities. These firms are making efforts like adding brand ambassadors and launching merchandise to strengthen their position in the market. In recent months, some firms in the crypto segment have entered into endorsement deals with celebrities.