Lionel Messi signs an agreement worth over $20 million deal to promote crypto fan token firm socios
- ByStartupStory | March 31, 2022
An agreement worth more than $20 million has been signed by Lionel Messi in order to promote digital fan token company Socios.com.
To enter the crypto world following NFL quarterback Tom Brady and NBA star LeBron James, Messi becomes the latest global sports personality and the deal is part of a growing wave of tie-ups between crypto firms and soccer.
Socios said in a news release that Paris St Germain and Argentina forward Messi, will be involved in a publicity and promotion campaign for Socios in the build-up to the Qatar World Cup, whose move from Barcelona in August included a cryptocurrency payment, which starts in November.
For Messi, the ‘ambassador’ deal does not include crypto payments and is a three-year agreement, said the source. For over 130 sports organisations including a number of top soccer clubs such as PSG, Barcelona, Juventus and Manchester City, Socios have signed deals, including creating tokens.
To vote on mostly minor decisions related to their clubs, Fan tokens are a type of cryptocurrency that allow holders to do so. Messi said in the statement that Fans deserve to be recognised for their support. To influence the teams they love, they deserve opportunities.
By clubs as a source of new revenue the tokens have been seen increasingly but by some supporters groups who see their introduction as superficial participation have also criticised that adds to the already growing costs of following their teams.
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