Lionel Messi Signs $20 Million Deal to Become an Ambassador for Crypto Fan Token Platform Socios

The celebrated footballer will appear in a publicity campaign for Socios.com ahead of the FIFA World Cup in Qatar.

By Shomik Sen Bhattacharjee | Updated: 30 March 2022 18:16 IST

Lionel Messi Signs $20 Million Deal to Become an Ambassador for Crypto Fan Token Platform Socios

Photo Credit: Messi.com/ Socios

Lionel Messi's deal with Socios.com will last for an initial period of 3 years

Highlights

Messi will be an 'ambassador' for the fan token platform
Fan tokens allow fans to vote on minor decisions at their club
Messi's three-year agreement does not include crypto payments

Football icon Lionel Messi has signed a $20 million (roughly Rs. 150 crore) deal with digital fan token company Socios.com to become its global brand ambassador. As part of the newly inked deal, the Argentine captain and star player of French club Paris Saint-Germain will serve as the exchange's ambassador for the next three years. The former FC Barcelona star will be involved in Socios.com's promotional and promotional activities in preparation for the World Cup in Qatar which is due to start in November 2022.

Amid the fast-developing crypto industry, digital asset platforms have been trying to rope in influential athletes from different sports, based on the market they're operating in. That said, according to a Reuters report, Lionel Messi's deal to become an ambassador for Socios.com doesn't involve a payout in cryptocurrencies, something we have seen evolve as a bit of a theme among crypto-savvy athletes. The report also highlights the fact that Messi's transfer from FC Barcelona to Paris Saint-Germain in August last year did involve a cryptocurrency payment.

About the contract, Messi said, "Fans deserve to be recognised for their support. They deserve opportunities to influence the teams they love. Socios.com exists to enhance the fan experience, to enable fans to 'be more'. I'm proud to join Socios.com's mission to create a more connected and rewarding future for fans around the world."

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Together we can do more. Together we can be more.

Introducing https://t.co/2FROhSNgw8's first global ambassador, Lionel Messi.#BeMoreThanAFan pic.twitter.com/DxiHckf2Wq
— Socios.com (@socios) March 29, 2022

Socios posted an announcement video welcoming the soccer star. The platform introduced Messi as their first global ambassador and wrote ‘Together we can do more. Together we can be more.' Meanwhile, Socios.com has also written ‘Lionel Messi Approved' in its Twitter bio.

The company's official website describes fan tokens as a "finite digital asset minted in limited numbers with ownership logged in a secure ledger on the Ethereum blockchain." Ownership of a fan token grants the buyer "voting rights to influence team decisions and other perks," though the voting power has been restricted to mostly minor choices, such as the design of the team bus or picking the club's warm-up music.

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The tokens are a way for clubs to raise revenue without giving up an actual ownership stake. Messi's club Paris Saint-Germain is one of the European football teams already on the Socios.com exchange. A fan token for the French giants is roughly worth $13.85 (roughly Rs. 1,050) (via CoinGecko) based on the prices at the time of publishing. Paris Saint-Germain is one of more than 130 sports teams available to trade on the Socios marketplace.

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