A combination that sometimes seems difficult to happen, football + cryptocurrency? Never imagined this? Well then, the time has come to understand that cryptocurrencies can and probably will appear in conjunction with several other activities.
After 17 years at Barcelona with countless titles and forever marking football history with his name, since his debut in 2004, when the team's star was still the Brazilian Ronaldinho Gaucho (another great player), Messi changed the air and team. Coming to PSG, team from Neymar, Mbappe, Di Maria, among other football stars.
So in these last days of expectations and anxiety, the football world has seen a whirlwind of speculation about the fate of the Argentine star, with teams like PSG, Juventus and Manchester City pointed out as favorites. In the end, the French team got the better of it.
PSG Token increases by almost 200%
First, what is a “Fan Token”? Unlike a “traditional” crypto, such as bitcoin or ethereum, for example, the club's currency is what we call Fan Token and offers benefits to those who invest in it, such as purchasing exclusive club materials or attending closed events. The main idea is that this type of asset is aimed at those who are a fan of the team's heart. So is it worth investing?
Cryptos generally increase in value with the creation of new protocols and the tokenization of new assets, but in the case of football teams' currency, there are other variables that carry the asset's price up or down, such as the performance of the team on the field, winning championships or as in the case of Messi, hiring players who arouse passion and have legions of followers. PSG's crypto already allows, for example, the fan to participate in the club's decisions through voting in assemblies.
With heated and busy betting, the cryptomarket was also impacted by what may be the most important transaction in world football in the last 20 years. Launched in partnership with Chiliz, its cryptocurrency “PSG Token” took off last week. Amidst the expectation of creating a superteam with Messi, the token jumped from $22 to the current $59, on Tuesday 10/08/2021, for example, the currency rose 12%. The market value of the fan token is $74 million.
Graph showing the high value of PSG token. Source: CoinMarketCap
Interestingly, Barcelona Fan Token, from the club that was Messi's home for so many years, also performed well, following the rise of the crypto market. Barcelona's cryptocurrency went from a fund of $19 to the current $26, up almost 40%. The fan token has a market value of $88 million.
Will Crypto rise higher with Messi?
The arrival of a player like Messi, known and adored around the world, tends to increase the club's revenue through the arrival of new sponsors, extra ticket sales, collector's items, followers on social networks, engagement, among others, everything this suggests that as a “consequence” it will bring more people to the team's Fan Token network.
These assets could go even higher, but it will all depend on the growth of the entire $PSG network and ecosystem, as well as demand and fan engagement with the club. The more people and fans know and enter the token's network, the greater will be the value of the token. Therefore, the team's performance and influence directly affect its market value.
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