Fan Tokens: Lionel Messi Teams up with Socios as Global Ambassador, Signs Deal in $20M

Lionel Messi has joined Socios.com as a Global Ambassador for the Fan Token platform, with the forward to lead educational and promotional campaigns about the new digital assets that seek to unite fans with the world of sport in a more active way. He is also the latest sports star to become a global ambassador for a crypto platform.

The Argentine star will share with his more than 400 million followers the advantages of Fan Tokens that aim to create a more connected, active and empowered digital community within the world of sport and its different entities.

This agreement, which will be for at least three years according to Socios, includes the presence of Messi in the new Socios.com TV campaign. And according to the Reuters news agency, Messi will be paid $20 million.

Messi is not the only sports star to join initiatives with new digital assets in the world of sport and blockchain technology. Recently, David Beckham has also joined the world of metaverse and NFT.

Messi says that passionate fans have been a “driving force” in his career — and he was proud to join a platform that aims to make supporters feel more connected to their clubs. He added:

“Fans deserve to be recognised for their support. They deserve opportunities to influence the teams they love.”

Socios.com’s CEO Alexandre Dreyfus describes Messi as a “once-in-a-generation talent,” adding:

“We have taken great strides forward in the last few years, but, if football fans know one thing, it’s that with Lionel Messi on your side anything is possible.”

Socios also notes that PSG and FC Barcelona are among the football clubs that use its platform — alongside Manchester City, Arsenal and UEFA.

What is a Fan Token?

Before we go any further, it is important to remember what a Fan Token is. A Fan Token is a digital asset created on a blockchain that gives its owner access to a service that sports organisations provide to their supporters through the Socios.com app.

To understand it better, the Fan Token is the access key to a modern version of the traditional supporter programme, which does not require subscription or renewal (you only pay once) and which, for the first time, gives fans the possibility to participate in team decisions by voting in polls and taking part in exclusive experiences, such as the one that took place on April 25 at the Estadio Wanda Metropolitano, where 26 Rojiblancos fans were able to play a match at the stadium.

Fan Tokens are one of the tools on which many hopes are pinned for the future of sport. In fact, the Sports Sponsorship Barometer 2021, published by SPSG Consulting last month, placed these digital assets as the second most influential source of revenue generation in the sports industry in the next five years.

How does Socios Work?

Socios says that the fan tokens issued by clubs allow supporters to influence decisions taken by their clubs — such as kit designs, the songs played during celebrations, and the message displayed on a captain’s armband. While the company touts such decisions as “key,” critics say these digital assets merely serve as another way for football clubs to generate revenue from fans — and only allow supporters to make fairly arbitrary decisions.

That said, some of the votes do enable fans to indulge in a bit of punditry. For example, PSG has recently held votes on the defensive play of the season, the best goal of 2019/20, and which star showed off the best skills.

Many fan tokens have also seen their prices dwindle substantially over recent months. PSG is currently trading at $13.69 — and while this is a 392% increase from lows of $2.77 seen in June 2020, supporters who bought at the all-time high of $61.23 last August are now down 77% on their investment.