Lionel Messi signs a $20 million deal with Socios, a cryptocurrency startup, to market digital fan tokens

Lionel Messi has agreed to promote digital fan token firm Socios.com for a fee of more than $20 million.

He joins Tom Brady of the Tampa Bay Buccaneers and LeBron James of the Los Angeles Lakers as the latest worldwide sports personalities to enter the crypto world. Messi’s agreement comes amid a growing trend of crypto-football collaborations.

Lionel Messi Signing the Agreement

Lionel Messi, whose August transfer from Barcelona to PSG included a cryptocurrency payment, will be involved in a media and advertising drive for Socios in the run-up to the World Cup in Qatar, which begins in November. According to the source, Messi’s “ambassador” pact does not include cryptocurrency payments and is a three-year deal.

More than 130 sporting companies, including PSG, Barca, Juventus, and Manchester City, have signed arrangements with Socios, which includes the creation of tokens. Fan tokens are a sort of cryptocurrency that allows holders to vote on a variety of minor club decisions.

Lionel Messi said in the statement: “Fans deserve to be recognized for their support. They deserve opportunities to influence the teams they love.”

About the Tokens

The tokens are increasingly considered by clubs as a source of fresh cash, but they have been attacked by certain supporters’ groups, who see them as a gimmick that adds to the already rising costs of supporting their teams.

Brady became an ambassador for crypto exchange platform FTX Trading Ltd last year after taking an undisclosed equity position in the company.

James launched a multi-year relationship with Crypto.com in January, a company that recently signed a sponsorship contract with FIFA, the governing body of world football. Despite his terrible form for PSG, Messi remains one of the best players in the world, capable of changing a game with his left foot at any time.

Read: Ousmane Dembele believed to have signed with PSG for June 2022 free transfer