Football industry embraces crypto as Messi helps 'fan tokens' take off | The Guardian Nigeria News - Nigeria and World News

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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

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 , made in PSG ‘fan tokens’.

This file photo taken on October 29, 2021 shows Paris Saint-Germain’s Argentinian forward Lionel Messi reacting prior to the French L1 football match between Paris Saint-Germain and LOSC Lille at the Parc des Princes stadium, in 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 , made in PSG ‘fan tokens’.

“The fact is that clubs suddenly lost 50 or 70 or 80 percent of their revenue, and they realised: ‘Hey, we have fans all over the world, what can we sell them?'”Sponsorship bonanzaNew analysis by KPMG Football Benchmark shows that over 40 shirt sponsorship deals have been signed-in Europe’s five biggest leagues since the pandemic’s onset.

In July, Roma announced a three-year deal worth $14 million annually that sees their shirts carry the name of DigitalBits, “an easy-to-use open-source blockchain used to power consumer digital assets”. To highlight their volatility, the value of ‘chiliz’ — a less well-known cryptocurrency than, say, Bitcoin — shot up 58 percent in the four weeks after Messi’s arrival.

 

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