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Lionel Messi inks $20M Deal to Promote Digital Fan Token Business Socios

Tyler Irvin

Summary: Lionel Messi has struck a deal worth more than $20 million to promote a digital fan token business Socios.com according to a Reuter’s report.  The Argentinian football legend joins global sports stars Tom Brandy and LeBron James as the latest athletes to join the crypto world. While the three-year ambassadorial deal is to promote Socios, ...

Lionel Messi has struck a deal worth more than $20 million to promote a digital fan token business Socios.com according to a Reuter’s report

The Argentinian football legend joins global sports stars Tom Brandy and LeBron James as the latest athletes to join the crypto world. While the three-year ambassadorial deal is to promote Socios, the payment to Messi does not include any crypto. 

However, when the soccer icon transferred from Barcelona to the Qatari-owned Paris Saint Germain (PSG), the signing fee included some of the French club’s fan tokens. While the club did not disclose how much Messi received in the fan token, they did note it was “significant.” 

Fan coins give owners the power to influence small decisions of their favorite teams, unlock VIP rewards and gain access to exclusive promotions, games, chats and a superfan recognition. Socios has mentioned that fan tokens have generated close to $200 million for its clubs in 2021 alone. 

Socios, a website and app dedicated to creating and selling fan coins, has partnerships with over 130 sporting organizations including the Messi-led PSG, Barcelona, Juventus, Manchester City and many more. 

Not only does this partnership mark Messi joining other crypto-sponsored athletes, but the same can be said for the crypto space furthering their involvement with professional sports. We have seen the Singapore-based cryptocurrency exchange Crypto.com purchase the naming rights to the Crypto Arena in Los Angeles, formerly known as Staples Center and sponsor pay-per-view (PPV) Ultimate Fighting Championship (UFC) cards and Formula 1 races. 

In addition, the first overall pick in the 2021 NFL draft, Trevor Lawrence, inked a deal with Blockfolio, a crypto investment app, through which he will be paid in part with crypto assets. Furthermore countless amounts of athletes have been changing from traditional payment methods to include crypto as a currency they would like to get paid in, including Pro-bowl offensive lineman Russell Okung, and UFC fighter Matheus Nicolau.

Author: Tyler Irvin

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Link: Lionel Messi inks $20M Deal to Promote Digital Fan Token Business Socios   [Copy]
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