Breaking: Lionel Messi’s PSG Signing Deal Includes Crypto NFT Payments

By Prashant Jha
Published August 12, 2021 Updated August 12, 2021
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Breaking: Lionel Messi’s PSG Signing Deal Includes Crypto NFT Payments

By Prashant Jha
Published August 12, 2021 Updated August 12, 2021

Lionel Messi, the legendary footballer, and six times Ballon d’Or winner made a historical club transfer from Barcelona FC to Paris Saint-Germain F.C after 26 years. The reported value of the two-year contract between Messi and PSG is $41 million annual salaries with bonuses, however, a recent insider scoop from a Bloomberg journalist suggests the football legend might receive crypto fan tokens or NFTs as part of his payment.

Messi’s transfer to PSG came as a big shock and heartbreak for Barca fans, especially after mentioning that he wanted to stay at the club. The transfer was nothing short of controversial as reports indicate the move was initiated after the club couldn’t agree to a contract renewal deal due to its debt.

The revelation about crypto fan token only strengthens the hype around NFT tokens. Non-Fungible tokens or NFTs were first launched in 2018 and until 2021 it was primarily used as fan tokens by premier sports clubs including PSG.

PSG Fan token is currently trading at $40.45 but might see a bullish burst in the wake of the news.

Source: TradingView

The price of the crypto fan token more than doubled in the wake of Messi’s signing and reached an ATH of $61.63 on August 10, a day after Messi’s move to PSG was confirmed. PSG is a utility token on the Chillz chain.

Will NFT Fan Tokens See Another Bullish Rally?

This bull run has seen a series of price rises among different classes of cryptocurrencies. First Bitcoin rose at the start of the year, then utility tokens, following which NFT tokens such as Chillz rose to their new ATHs and the cycle continued. As the crypto market recovers from the two-month-long bearish phase and both Bitcoin and altcoins start the second leg of this bull run.

The second leg could trigger a similar bullish price cycle again including for NFT fan tokens. Given the intensity of Messi’s transfer news, it could act as a potential trigger for a fan token rally.

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1179 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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