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Football industry embraces crypto as Messi helps 'fan tokens' take off

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Sports clubs are turning to 'fan token' cryptocurrency as a new way to engage followers and as a form of merchandise to sell.

Lionel Messi received RM4.73mil in PSG 'fan tokens' when signing up to the club, a form of cryptocurrency sports clubs exploring, as a way to engage with fans. — AP Photo

These issues have tended to be rather mundane, for example, Juventus asking what music they should play in their stadium, but the concept has caught on. Dreyfus admits the pandemic and resulting economic crisis has benefited his company, allowing them to multiply their partnerships. In July, Roma announced a three-year deal worth US$14mil 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% in the four weeks after Messi's arrival.

 

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