Messi receives crypto fan tokens as part of PSG contract

The erstwhile Barcelona subordinate besides precocious unveiled a non-fungible token (NFT) collectible

Lionel Messi has received a immense magnitude of crypto instrumentality tokens arsenic portion of his two-year declaration with Paris St Germain (PSG), Reuters has reported.

PSG has besides confirmed the 34-year-old received the tokens arsenic portion of a "welcome package" connected its website, noting:

"In a satellite archetypal for specified a high-profile signing, Leo Messi received a ample fig of '$PSG Fan Tokens'."

The quality follows the Argentine shot star's swift determination to the French club, days aft exiting FC Barcelona. The club's connection besides notes that the crypto tokens volition link Messi to millions of fans crossed the globe.

People who clasp instrumentality tokens tin enactment successful nine activities specified arsenic choosing the extremity of the play oregon voting for subordinate of the year. But due to the fact that the tokens person functional similarities with different cryptocurrencies, they person progressively attracted investors keen connected capitalising connected their terms movements.

For example, an capitalist noted that connected 9 August, arsenic developments continued to nexus Messi with the PSG move, the terms of the club's instrumentality token jumped 25% to much than $50 per token.

That's $PSG crypto coin, much than doubled since Messi was linked to the club!!! pic.twitter.com/MZmJOJpPvd

— Horcrux (@BlaugranaFC26) August 9, 2021

According to information from CoinGecko, the token is up implicit 81% successful the past 7 days. Most of the upside happened conscionable earlier the woody was officially announced, with PSG/USD worth hitting a 7-day highest of $58.04, conscionable shy of its all-time precocious of $58.79 recorded connected 27 April 2021.

At clip of writing, the Paris Saint-Germain token has dipped astir 3% successful the past 24 hours to commercialized astir $41.07. Although the existent terms is astir 30% disconnected the April peak, it is presently trading much than 1,050% up since its all-time debased of $3.57 recorded connected 1 July 2020.

The 333rd ranked crypto token has seen implicit $317 cardinal successful regular volume, with the marketplace capitalisation rising to $118 cardinal arsenic seen connected CoinGecko.