Lionel Messi has signed an settlement price greater than $20 million to advertise digital fan token firm Socios.com, a supply near the deal informed Reuters on Tuesday.
Messi turns into the most recent world sports activities character to enter the crypto world following NFL quarterback Tom Brady and NBA star LeBron James and the deal is a part of a rising wave of tie-ups between crypto companies and soccer.
Paris St Germain and Argentina ahead Messi, whose transfer from Barcelona in August included a cryptocurrency fee, might be concerned in a publicity and promotion marketing campaign for Socios within the build-up to the Qatar World Cup, which begins in November.
The ‘ambassador’ deal for Messi doesn’t embody crypto funds and is a three-year settlement, the supply stated.
Socios have signed offers, together with creating tokens, for over 130 sports activities organizations together with numerous high soccer golf equipment corresponding to PSG, Barcelona, ​​Juventus and Manchester City.
Fan tokens are a kind of cryptocurrency that enable holders to vote on largely minor selections associated to their golf equipment.The tokens are more and more seen by golf equipment as a supply of latest income however have been criticized by some supporters teams who see their introduction as superficial participation that provides to the already rising prices of following their groups.
Brady final 12 months took an undisclosed fairness stake in crypto alternate platform FTX Trading Ltd and have become an envoy for the corporate.
In January, James introduced a multi-year partnership with Crypto.com, an organization who lately signed a sponsorship take care of world soccer’s governing physique FIFA.
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With inputs from TheIndianEXPRESS
