By Richard Hines
In a recent deal, Lionel Messi is introduced into the world of cryptocurrencies. The Superstar football player has agreed to a massive $20 million contract with Socios, a provider of digital fan tokens.
Messi would serve as a brand ambassador for the Socios digital company going forward.
Messi As Brand Ambassador
Messi’s hiring by the digital token company was celebrated in a video posted by the company. He was introduced as their first ambassador for the entire world with the slogan “Together, we can do more and be more.” Additionally, they modified their Twitter profile by adding “Lionel Messi Approved” to their bio.
Many businesses have been vying for ground to advance the spread of cryptocurrency globally in response to this development in the crypto industry. Therefore, the announcement of a partnership was not as shocking as it might have been. Earlier, NBA player Lebron James also made an entrance into the cryptocurrency world. According to Reuters, Lionel Messi used a cryptocurrency payment method to transfer from FC Barcelona to Paris St. German (PSG).
Messi would be playing a very significant role in this ambassadorial agreement with Socios, especially given the upcoming world cup. However, Reuters made it clear that no payments in cryptocurrency are being made as part of this three-year ambassadorship agreement.
Crypto And Football Partnerships
This platform has signed large deals with over 120 clubs and firms, including Barcelona, PSG, and Manchester United. However, not all partnerships were satisfactory, as some brands criticized the fan token as well as sport supporting groups.
Fan tokens have been seen as a means of setting the stage and bridging the gap between cryptocurrencies and the sports world. Holders of fan tokens can use them to vote on public decisions affecting their clubs. Similarly, clubs have identified this as a means of generating revenue.
The digital fan token company Socios collaborates with the cryptocurrency company Chiliz ($CHZ). Users must now first purchase CHZ tokens before engaging in an exchange in order to obtain the fan tokens distributed by the platform. The Chiliz token has increased by more than 7% from the previous day as a result of this new development and usage. The coin is currently trading at $0.3 and saw a 50% increase in 24 hour trading volume to $813,973,000.