Report: Lionel Messi Signs Contract Worth More Than $20M with Crypto Firm Socios

Paris Saint-Germain superstar Lionel Messi has signed a contract to become a global brand ambassador for Socios.com, a cryptocurrency company focused on digital fan tokens.

Reuters' Simon Evans reported it's a three-year deal worth more than $20 million and includes a promotional campaign leading up to the men's 2022 FIFA World Cup in November, at which Messi will represent Argentina.

"Fans deserve to be recognized for their support. They deserve opportunities to influence the teams they love," Messi said. "Socios.com exists to enhance the fan experience, to enable fans to 'be more.' I'm proud to join Socios.com's mission to create a more connected and rewarding future for fans around the world."

The company's official website describes fan tokens as a "finite digital asset minted in limited numbers with ownership logged in a secure ledger on the Ethereum blockchain."

Ownership of a fan token grants the buyer "voting rights to influence team decisions and other perks," though the voting power has been restricted to mostly minor choices, such as the design of the team bus or picking the club's warm-up music.

The tokens are a way for clubs to raise revenue without giving up an actual ownership stake.

Messi's PSG is one of the European soccer teams already on the Socios.com exchange. A fan token for the French giants is worth 46.24 CHZ, or about $13.86 based on the prices at the time of publishing.

Paris Saint-Germain is one of more than 130 sports teams available to trade on the market.