The initiative elevates PSG to the status of “one of the top creative and avant-garde brands in sport worldwide,” as per the club. Messi, a famed Argentine footballer, quit Barcelona to join PSG on a two-year contract for £1 million a week.
PSG said that Messi got a large sum of $PSG Fan Token as part of the conclusion of his contract with the club. According to the club, Messi got a part of the “welcome gift” in $PSG fan tokens. During the media briefing when Messi was revealed as the French club’s latest player, PSG president Nasser Al-Khelaifi guaranteed that the club is complying with the financial righteousness.
“With respect to the financial side, I will make it plain — we understand the requirements of FFP and we will always respect the laws,” Al-Khelaifi said. “We consult with business, financial, and legal experts before making any decisions. We have the resources. We are signing Leo because we can; or else, we would never have done so.”
Furthermore, the PSG president stated that Messi would be a valuable asset to the club, describing him as a “huge asset.” Following the announcement of Messi’s arrival at PSG, the club’s fan token started to rise. The cryptocurrency increased by 10.57% to an intraday peak of $41.90. Previously, $PSG Fan Token reached an all-time peak on August 10th, after reports that Messi was set to ink a two-year deal with the French club.
Inside Leo Messi’s unveiling day. ❤️💙#PSGxMESSI pic.twitter.com/zR96mo4H5I
— Paris Saint-Germain (@PSG_English) August 11, 2021
Messi indicated that a move to PSG was an option during his final speech at FC Barcelona five days back. He did, nevertheless, clarify that the transaction was not finalized at the moment. Investors have loved the worth of a PSG token since its public speech.
The token was undergoing price correction at the time of publishing. The price of the $PSG Fan Token has dropped 5.7% to $40.34. The cryptocurrency, which is ranked 317, has also shed almost 49% of its 24-hour transaction volume.
Nevertheless, the market value of $PSG has increased by approximately 114%. PSG is one of many European teams who have adopted the cryptocurrency trend. Additional clubs who have joined the bandwagon are Inter Milan, Manchester City, Barcelona, Juventus, and others.
In 2018, PSG revealed a collaboration with blockchain startup Socios.com to enable supporters to buy $PSG fan tokens. Following that, the business was designated as PSG’s “exclusive labeled cryptocurrency associate.”