Lionel Messi has agreed to promote digital fan token firm Socios.com for more than $20 million. Argentine soccer star Lionel Messi is the latest global sports celebrity to join the crypto world, after NFL quarterback Tom Brady and NBA star LeBron James, and the deal is part of a rising wave of partnerships between crypto firms and soccer.
According to a source, Messi’s “ambassador” deal is for three years and does not include cryptocurrency payments.
More than 130 sports teams, including PSG, Barcelona, Juventus, and Manchester City, have agreed to work with Socios, which includes making tokens. Fan tokens are a sort of cryptocurrency that allows holders to vote on relatively minor club matters.
The tokens are increasingly considered as a source of new revenue by clubs, but they have been criticised by certain fan organisations, who perceive their introduction as a kind of superficial engagement that adds to the already rising expense of supporting their teams.
Brady became an ambassador for crypto exchange platform FTX Trading Ltd. after taking an undisclosed ownership position in the firm last year.
In January, James announced a multi-year partnership with Crypto.com, a company that had just signed a sponsorship agreement with FIFA, the world soccer governing body.
