Cryptocurrencies in the world of sport, i.e. Messi's PSG tokens

Leo Messi's welcome pack at PSG, in addition to the traditional currency, it also contained Paris club tokens. The footballer is expected to earn EUR 30 million in the first season of the game, but due to the mentioned tokens, the value of the package may change quickly. PSG tokens is a form of currency that is not issued by a central bank, but a sports club using technology borrowed from the world of cryptocurrencies.

How much does a PSG token cost and what does it have to do with bitcoin?

Cryptocurrencies are virtual money stored in online wallets. They are based on cryptography, a data encryption technique that is used to verify transactions and create new units, called tokens. Cryptocurrencies, and there are already over 4 of them, differ in the method of storage and trading. An example of a technology used to carry out transactions is blockchain, or blockchain. This technology is based, among others, on bitcoin, the most famous cryptocurrency in the world. 1 BTC is valued today at approx. 43 thousand. dollars. For comparison, 1 PSG token currently costs around $ 30, but in the past it has been more than twice as expensive. A characteristic feature of cryptocurrencies is that, depending on the demand and supply, the quotations can change at a dizzying scale and at an unprecedented pace.

Nothing new for Messi

The football club from Paris is no exception. Their tokens, in cooperation with the Socios.com cryptocurrency platform, are already issued by, among others, Juventus Turin, Atletico Madrid, AC Milan, AS Roma, West Ham United or Galatasaray Istanbul, and in Poland, Legia Warsaw is the trail.

In turn, FC Barcelona, ​​which is Messi's previous team, became famous for the fact that a year ago it sold tokens called BAR with a total value of $ 1,3 million in just two hours!

You have a token, you have a vote

In sports clubs operating as joint-stock companies, the importance of tokens is increased not only by their current valuation, but also by their translation into voting rights.

Tokens are becoming something of a stock of publicly traded companies and are crucial for their owners. The more tokens there are, the stronger the voice in the decisions made by the socios assembly. To get to know the issue better, it is worth following the entire process. A fan who wants to participate in the life of the club, but also have a chance, for example, to get better tickets, take part in lotteries, elite meetings, etc., must purchase a token. To do this, download the socios.com appin which you can purchase a regular credit card chiliz cryptocurrency ($ CHZ). In turn, with its help you can buy PSG tokens or other football clubs. Moreover, club tokens are listed on cryptocurrency exchanges and fluctuate in value in line with demand and supply. The better the club performs, hires bigger stars and encourages fans to use the tokens more, the higher their price may be. However, if the club starts losing, loses valuable players and coaches, and leaves the fans to themselves, the price of tokens may drop.

Sizeable Leo package

The value of all tokens issued by the club from Paris exceeds EUR 400 million. With a high degree of probability, it can be assumed that Leo Messi has gained quite a significant package, giving him the right to co-decide about the fate of the club together with other fans.

However, if an Argentine footballer decides that he does not need the tokens, he can always sell them on the cryptocurrency exchange, exchanging for example for the popular and, it seems, more universal bitcoin. But what would PSG fans say ...