Lionel Messi signs $20 million deal with crypto company Socios

Lionel Messi signs $20 million deal with crypto company Socios

Soccer star Lionel Messi is the newest athlete to enter the world of cryptocurrency. The Paris Saint-Germain forward signed a deal for over $20 million to promote Socios.com, according to an ESPN article. 

Socios.com is a digital fan token company that has already partnered with some of the biggest teams across global soccer as well as the majority of the NBA and NHL. The fan tokens allow for people who obtained them to have a say in mostly minor decisions related to the teams by allowing them to vote on matters.

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

By joining the world of cryptocurrency Messi stands alongside two of the world’s most famous athletes Los Angeles Lakers forward LeBron James and Tampa Bay Buccaneers quarterback Tom Brady.

Socios.com announced on Twitter that Messi will be the company’s first “global brand ambassador” and will be the front of the company’s campaign surrounding the 2022 World Cup in Qatar. This move from Messi into crypto was bound to happen sooner or later because when he moved from Barcelona to PSG last August his contract included payment in the form of Socios.com’s fan tokens.

When he agreed to this part of his contract, the Argentine became the first athlete in the world to receive fan tokens as part of his sign-on deal.

Crypto companies have been increasing their footprint in sports and getting world-renown athletes onboard is the best way to do this. In January, James began a partnership with Crypto.com as part of the company’s $1 billion marketing plan. Crypto.com is the same company that took over the naming rights of what was the Staples Center in Los Angeles.

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Brady took an equity stake in the crypto company FTX Trading Ltd last year along with his wife Gisele Bündchen. The couple will also serve as ambassadors for the company and receive an unspecified amount.

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