September 28, 2022

The Argentine footballer, who has had a long history with FC Barcelona, is going to appear in “multiple educational and promotional campaigns.”

Source: CoinMarketCap

Lionel Messi has become the latest sports star to become a global ambassador for a crypto platform.

The Paris Saint-Germain forward has entered into a multi-year deal with the fan token platform Socios.

His initial contract is set to last for three years — and according to the Reuters news agency, Messi will be paid $20 million.

Socios notes that PSG and FC Barcelona are among the football clubs that use its platform — alongside Manchester City, Arsenal and UEFA.

Messi says that passionate fans have been a “driving force” in his career — and he was proud to join a platform that aims to make supporters feel more connected to their clubs. He added:

“Fans deserve to be recognised for their support. They deserve opportunities to influence the teams they love.”

Socios.com’s CEO Alexandre Dreyfus went on to describe Messi as a “once-in-a-generation talent,” adding:

“We have taken great strides forward in the last few years, but, if football fans know one thing, it’s that with Lionel Messi on your side anything is possible.”

How Socios Works

Socios says that the fan tokens issued by clubs allow supporters to influence decisions taken by their clubs — such as kit designs, the songs played during celebrations, and the message displayed on a captain’s armband. While the company touts such decisions as “key,” critics say these digital assets merely serve as another way for football clubs to generate revenue from fans — and only allow supporters to make fairly arbitrary decisions.

Source: CoinGecko

Many fan tokens have also seen their prices dwindle substantially over recent months. PSG is currently trading at $13.69 — and while this is a 392% increase from lows of $2.77 seen in June 2020, supporters who bought at the all-time high of $61.23 last August are now down 77% on their investment.

Source: CoinGecko