The transfer of Leo Messi from FC Barcelona to Paris-Saint Germain generates talks about the millions of euros at stake in his salary or the club’s marketing. But it shifts an even larger sum to a specific asset: the Paris Saint-Germain Fan Token.
Messi’s coming to PSG is not yet official, but that does not matter to Paris Saint-Germain Fan Token traders.
Half a billion euros traded, + 100% increase
Many other clubs have their tokens, such as Juventus, AC Milan or FC Barcelona. All these fan tokens are offered by Chiliz and use the ERC20 token standard.
These tokens allow fans to influence club decisions. For example, polls are offered and the more tokens you have, the more your voice counts. This system resembles that of traditional corporate shareholders, where one share = one vote. The decisions taken are however limited to messages on the players’ jersey or the music played in the stadium with each goal scored. According to L’Équipe, the system brings in 2.5 million euros a year for the club.
Fans can also make big gains. Over the last three days, the PSG token has seen a 100% increase between its low point and its highest price. Even more impressive, the volume of trade on the token exceeds 600 million euros. Enough to make the shareholders of clubs whose shares are on the stock market, such as Olympique Lyonnais in France, turn pale.
Paris Saint-Germain Fan Token up sharply since its launch in 2020
However, the Parisian token has not yet returned to its April 2021 high (see graph below). At the time, the cryptocurrency had taken off during the club’s Champions League journey, particularly following their victory over Bayern Munich. Unfortunately, a crash followed after the elimination of the Parisians by Manchester City.
The token’s rise is impressive if you look at the chart since its launch only a year and a half ago. According to data from CoinMarketCap, the Paris Saint-Germain Fan Token was trading in June 2020 for $ 5. Its price has therefore been multiplied by 10.