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Lionel Messi’s Crypto-Forward PSG Deal – Commentary

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Today, Paris Saint-Germain has confirmed that football star Lionel Messi’s transfer includes a payment in cryptocurrency fan tokens, proving another credible case of the mainstream adoption of crypto in the sports industry. It has been disclosed that the tokens have been provided by Socios.com –  the club’s fan token provider.

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As the sporting industry continues to gather momentum inside the world of tokenization and digital assets, below is a commentary from an expert in the tokenization and sports arena.

Mainstream Adoption Of Crypto

Solo Ceesay, Co-Founder and COO at Calaxy, commented: 

"Professional athletes and celebrities accepting compensation in the form of crypto provide positive signaling to the market as the high volatility of the asset class has quelled investor appetite. 

The barriers to entry are lower when the technology is utilized in a way that's familiar to our everyday, Web2.0 lifestyles. Fan tokens, when coupled with experiential benefits, are not too different than loyalty member passes or membership rewards programs. 

When blockchain technology meets modern consumer behavior, special things happen. It creates a natural ecosystem for these tokens to live which naturally helps with long-term adoption and price volatility going forward." 

For reference, Calaxy is building a decentralized app and with it an all-new creator and fan economy -- putting the power back in the hands of the social media user. Utilizing the Hedera network, a blockchain alternative that harnesses the power of the hashgraph consensus algorithm, Calaxy’s open social marketplace creates a fair exchange of value, enabling creators to monetize relationships with their community through Creator Tokens, which fans can utilize for a suite of personalized experiences. The platform was co-founded by Solo alongside NBA Star Spencer Dinwiddie.