The exciting news of the inevitable transfer of Argentina’s Megastar Leo Messi to PSG football club has created a new interesting playfield for cryptocurrencies in sports as fan tokens nearly doubled in value reaching an all-time high at $52.
The fan crypto token of PSG, (trading $41 at time of writing) was created to allow the beautiful game fans to buy the club’s merchandise, vote on critical club decisions, and have a say in other club activities.
The token has a market cap of $52,973,352, a circulating supply of 1,288,396 fan coins, and a max. supply of 20,000,000 PSG coins.
As soon as the six-time Ballon d’Or winner Messi confirmed that PSG deal, The token’s price skyrocketed from around $2 to $44.
It’s interesting to mention that other football clubs like Manchester United, Arsenal AC Milan have their fan tokens.
The crypto market has consolidated since then, with prices down by over 40% from their all-time highs. The price of the PSG token is also down from its all-time high. However, by rallying to $48 over the past 24 hours, PSG is currently up by 300% year-to-date.
Check out more content right here!
6 Things To Know Before Investing In Cryptocurrencies
Amazon To Accept Bitcoin And Other Cryptocurrencies
