PSG Incorporates Crypto Fan Tokens In Latest Lionel Messi Transfer

Published: 2021-08-13 16:42:15

As part of PSG‘s payment for the transfer of Lionel Messi from FC Barcelona, the French club included crypto fan tokens. In the official statement by PSG, these crypto tokens are part of the ‘welcome package’. Or in more familiar terms, a signing bonus. The tokens will be created by Socios.com. They are consequently also the PSG’s official token partner. Although PSG did not disclose how much the tokens will cost, they at least confirm that the sum is substantial. Or as they put it, ‘he received a large number’

 

One of the reasons for the more and more frequent use of tokens is simply due to their convenience. Being that they are just like any other cryptocurrency. As such, fan crypto tokens are also easy and good for trading on exchanges. This makes the convenience of using tokens for payments in football quite ingenious.

That is simply due to the fact that tokens are a certain type of cryptocurrency. More specifically, fan tokens enable holders to vote for certain decisions in relation to the club. Mind that we are speaking of smaller-scale decisions. However, no one can oppose the revolutionary nature of crypto tokens and what they bring to the table.

This token venture sees PSG as the third major European club to implement crypto fan tokens in their way of conducting business. In particular, they come after football giants Manchester City and AC Milan. Both of whom already did something similar in 2021.

We can definitely trace the culprit for PSG’s tokens’ high trading volume due to the Messi transfer. Especially since it is one of the biggest in football history. In addition, PSG’s singing several other football stars also greatly contributed to the high trading volume of the tokens.

The hype surrounding the latest signings in the club’s busy summer transfer window created a huge surge of interest in $PSG Fan Tokens, with trading volumes exceeding $1.2 billion in the days preceding the move.PSG Official Statement

However,  there are several reasons that make tokens and digital coins basically the same. One major, however, the fact that both are subject to unpredictable price changes. As a result, this led financial regulators to immediately reprimand and monitor all potential traders and investors.

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