What are Fan Tokens? How Has Messi’s Appearance Helped PSG’s Fan Tokens?

Fan tokens are digital assets like non-fungible tokens that are volatile and their value can change drastically. Just like bitcoin and similar digital currencies, fan tokens can be traded on exchanges. A crypto platform called Socios created these fan tokens. Fans can buy crypto tokens with real-world money and with the help of crypto tokens they can get access to exclusive augmented reality games. Along with this, owners of fan tokens get to vote on mostly minor decisions related to their clubs.

The more tokens a fan will have, the more votes he will get in the polls. Examples of decisions on which fans can vote on include, goal music, kit designs, pre-season tour destination for the team, etc. In the end, the polls are decided by the club.

Total 11 teams including Everton, Leeds, Manchester City, Arsenal, Aston Villa, Barcelona, AC Milan, Inter Milan, Juventus, PSG, and the Portuguese National Team have signed up for the fan tokens.

When Barcelona introduced their first lot of fan tokens last June, they traded off in less than two hours, producing $1.3 million. Socios declares the fan tokens have produced $200 million in revenue.

PSG informed Reuters that fan tokens were a remarkable part of Messi's salutation package, which has a detailed value of 25-30 million euros ($29-35 million).

Immediately after the first reports relating to Messi to PSG came in, the club's crypto coin doubled in its value. In June, a PSG fan token was going for $11.93. As of Thursday evening, it is priced at $43.91. The club informed Reuters that there had been a high volume of trading in its fan tokens after reports that Messi was set to join the club. Trading volumes crossed $1.2 billion in the days before the arrival of the Argentine.