According to Reuters, Lionel Messi has agreed to a $20 million agreement to serve as the worldwide brand ambassador for the fan token site Socios.
Argentine soccer star Lionel Messi, who is also Argentina's national team captain, will serve as an ambassador for the exchange program for the next three years.
Reuters was informed by a person familiar with the issue that the transaction would not include any cryptocurrency. In August of last year, ESPN reported that as part of Messi's transfer cost from Barcelona to Paris Saint-Germain, he got "a big amount" of fan tokens from Socios.
Most typically, fan tokens are a kind of cryptocurrency that symbolize a particular sports team and allow supporters to have a say in little choices within their team's community, such as squad numbers and celebratory songs. Soccer, football, hockey, basketball, and more all have fan tokens that can be purchased on Socios.
Messi remarked in a statement that "fans deserve to be honored for their support." As a member of the Socios.com team, I'm excited to help build a better future for fans throughout the globe.
Football stars like Odell Beckham Jr. and Aaron Rodgers are among a growing number of sportsmen who are accepting cryptocurrency as a form of payment. A stamp of permission has also been provided by the NFL if a club want to promote blockchain startups (as long as they aren't endorsing any particular cryptocurrency).
However, the meeting of sports and cryptocurrency hasn't been without its detractors. Earlier this month, the UK prohibited two advertising for an Arsenal FC fan token, alleging a failure to adequately disclose the dangers associated with its purchase.
A report from Off the Pitch earlier this month accused Socios of failing to deliver promised bitcoin payments to consultants and advisers on schedule.
For the sake of the investors of chiliZ, the cryptocurrency he also owns, it disclosed mails that it claims were made by Socios CEO Alexandre Dreyfus.
"Like the price of any other currency or cryptocurrency, any movement in the CHZ price is mostly influenced by current market circumstances," says Dreyfus. Because CHZ has such a high market value, any incentive program for qualified personnel has a minor effect on the stock's price."
