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Messi’s three-year ambassador pact does not include crypto payments. Last year, Brady invested an undisclosed amount in FTX Trading Ltd.
A source close to the deal tells Reuters that Lionel Messi has signed a contract worth more than $20 million to promote digital fantoken venture Socios.com. Football legend Lionel Messi joins Tom Brady and LeBron James to become the latest sports celebrity to enter the crypto world as the pact is part of a rising trend in football and crypto partnerships.
In the months leading up to the World Cup in Qatar, which starts in November, Argentine forward Messi, who joined PSG from Barcelona with a cryptocurrency payment, will help promote Socios through public relations and advertisements.
Unnecessary costs for fans
According to a source, Messi’s three-year ambassador pact does not involve crypto payments. However, more than 130 sports organizations have signed relationships with Socios, including PSG, Barcelona, Juventus and Manchester City, with tokens being created as part of such agreements. In the world of cryptocurrency, fan tokens are a type of token that allows holders to vote on minor club matters.
However, some fan organizations claim that while clubs see the tokens as a way to generate fresh cash, they are also an unnecessary expense for fans already dealing with high ticket prices. Last year, Brady invested an undisclosed amount of money in FTX Trading Ltd, a cryptocurrency trading platform, and became a corporate ambassador. Crypto.com, a company that has signed a sponsorship deal with FIFA, announced a multi-year partnership with James in January. By providing a middle ground between the two extremes of fandom, the company hopes to appeal to both active and passive fans.