Yes, you have heard it right. Star and arguably the greatest footballer ever Lionel Messi left the world shocked and his fans heartbroken when the news about him leaving his former club FC Barcelona broke out. A couple of days after his emotional farewell at Barcelona, he signed a deal for PSG that involved crypto payment. Yes, he got paid in crypto.
The news was first reported by Reuters and later his new club PSG which stands for Paris Saint-Germain confirmed the report. Although the club did not reveal the amount it paid to Messi in the form of crypto, it said the amount was quite significant and media reports estimate it to be $29-35 million.
The cryptocurrency we are talking about here is the PSG fan token. The club, in a statement, confirmed that the trading volume of their coin jumped to $122 million USD from $28 million USD from the days when Messi’s arrival at the club was expected to today when he is officially a PSG member.
According to CoinMarketCap, the value of PSG fan tokens was lying in the range of $22 at the time Lionel Messi officially left FC Barcelona and it started to increase as multiple reports of Messi joining PSG started to surface.
It reached quite close to touching its all-time high of $58.79 around the time Messi officially joined the club as it was being traded at $58.41 at that time.
Today at the time of publishing this article, the value of one PSG coin is $42.14 with the Total Market Cap of 122 million dollars as the crypto platform has given this coin 316th rank.
PSG is not the first footballing club to have its own crypto token. English Premier League’s team Manchester City and Italy’s AC Milan have also launched their tokens this year only while Messi’s former team Football Club Barcelona had launched its token last year itself.
The value of FC Barcelona Fan Token (BAR) hasn’t changed that much with Messi’s departure. On 4th August, it was being traded at around $21 while its current value is $24.42. Similarly, its market cap has moved to $81 million from $64 million in the same time period.
These crypto tokens give the fans the power to vote on minor club matters as they become the stakeholders to a certain extent after purchasing the tokens.
Lionel Messi joins PSG… HERE WE GO! Total agreement completed on a two-years contract. Option to extend until June 2024. Salary around €35m net per season add ons included. 🇦🇷🇫🇷 #Messi
Messi has definitely accepted PSG contract proposal and will be in Paris in the next hours. pic.twitter.com/DiM5jNzxTA
— Fabrizio Romano (@FabrizioRomano) August 10, 2021
Lionel Messi was signed by French team Paris Saint-German for two years with an option to extend the contract for another year in a whopping deal where he would get 35 million Euros ($41 million) net each season. Apart from that, he also gets a $30 million dollar signing bonus and a cut of player image rights.