Cryptocurrency

Lionel Messi Signs $20 Million Mega Crypto Deal With Socios

Lionel Messi Signs $20 Million Mega Crypto Deal With Socios

  • Lionel Messi has sealed a deal worth more than $20 million with digital fan token company, Socios.com
  • Socios confirmed on Tuesday that the Argentinian star will be involved in publicity and promotion for the company ahead of the World Cup in Qatar
  • So far, the crypto giant has signed deals with over 130 organizations, creating digital tokens for the fans of the club

Football’s GOAT, Lionel Messi is the latest sports personality to enter the crypto world. The Paris Saint Germain forward has signed a $20 million deal with cryptocurrency platform, Socios to become its fan token global brand ambassador.

According to Reuters, the Argentina football team captain will promote the exchange and its projects over the next three years, starting with the World Cup in Qatar, later this year.

Reuters also revealed that a source close to the situation has confirmed that the payment transaction will not involve any cryptocurrency. This is in contrast to when Messi transferred to Paris-Saint Germain last August and received a number of fan tokens as a part of his signing fee.

Lionel Messi

What are fan tokens?

A fan token is a type of cryptocurrency that is often used by sports teams to enable fans to have input in small decisions with the team’s affairs. With these tokens, fans can decide things like squad numbers and celebration songs used by the team.

Socios has signed deals with more than 130 sports organizations in football, hockey, basketball, and more, creating and hosting their fan tokens.

Read also: Football Legend David Beckham Joins Metaverse With New DigitalBits Deal

In a confirmation statement released by Lionel Messi, the 7-time Balon D’or winner said: “Fans deserve to be recognized for their support.” He also revealed that he was proud to be joining Socios’s mission to create a rewarding future for fans.

More athletes have been warming up to cryptocurrency by signing endorsement deals or signaling their approval of digital tokens in some way. NFL player, Odell Beckham Jr. signed a deal to take his salary in crypto last year, while Lebron James signed a deal with Crypto.com in January.

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