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Messi's new crypto contract

Messi’s new crypto contract redefines future sports

The sports industry and crypto have crossed paths on various occasions this year, with Tom Brady, Saquon Barkley, and Dallas Mavericks already making headlines. But enter Lionel Messi, soccer’s biggest star, who might have brought a revolution with his new crypto contract.

The Argentine superstar gets paid in crypto as part of a two-year contract (it includes an annual salary of $41 million-plus bonuses) to play for French club Paris Saint-Germain. And, with an aim to engage with its global fanbase, the team launched its own cryptocurrency, PSG, last year. Messi’s welcome package included a huge number of PSG tokens.

Fan tokens like these can bring fans into team decisions by voting on everything from uniform designs to which players deserve MVP awards through the Socios blockchain. Tokens can be traded among fans globally and make holders eligible for promotions.

Fan tokens can make sports fandom more interactive, and top sports franchises are taking note. LA Clippers is also about to join the Socios platform. Apart from that, Formula 1 racing teams Aston Martin and Alfa Romeo, the UFC, and soccer clubs: Arsenal, Manchester City, and Barcelona have also launched their tokens.