The price of PSG Fan Token has skyrocketed in response to media reports about Lionel Messi’s transfer, even outperforming meme cryptocurrency Dogecoin.
According to CoinMarketCap data, the PSG cryptocurrency has increased by more than 74% in the last four days.
Binance and the Turkish crypto exchange Paribu account for the majority of its trading volume.
The utility token, which was launched in early 2020 by the club in collaboration with Socios.com, allows fans to have a say in the club’s decision-making process by voting in a series of polls.
Similar fan tokens have been introduced by Juventus and A.C. Milan.
Messi confirms that a move to PSG is a “possibility.”
Barcelona shocked the football world earlier this week when it announced that it would be parting ways with Messi.
During a press conference on Friday, President Joan Laporta revealed that the Spanish club could not afford a new contract with the Argentine superstar due to financial constraints. His previous contract was set to expire on June 30.
Paris Saint-Germain, whose president Nasser Al-Khelaifi tried unsuccessfully to sign Messi from Barcelona last summer, quickly emerged as the frontrunner to sign the 34-year-old footballer.
On August 7, the French newspaper L’Equipe reported that PSG was willing to pay one of the greatest football players of all time a salary of 40 million euros per year. However, the agreement has not yet been finalized. This Sunday, the Paris-based club is expected to hold talks with Messi’s representatives.
Messi’s former teammate, Brazilian footballer Neymar, was purchased by PSG for a record-breaking 222 million euros in 2017. The former has already offered the latter his No. 10 shirt.
During an emotional press conference on Sunday, a tearful Messi said it was the “toughest time” of his career.
While the superstar stated that a move to PSG was a “possibility,” he did not explicitly confirm his decision:
I haven’t confirmed anything with anyone, but it’s a possibility. I received a lot of calls after the news broke, but nothing has been resolved yet.