Socios signs multi-million deal with Lionel Messi; CHZ spikes to 2-month high

Saif Naqvi
Socios
Source: Pixabay

In the latest sports personality to enter the crypto world, Paris Saint-Germain F.C. forward Lionel Messi signed an agreement worth more than $20 million to become the ambassador of digital fan token company, Socios.com. The aftereffects of the deal were immediately visible on the Chiliz chart, with Socios’ native token spiking by 19% and snapping a 2-month high.

Source: Twitter

Under the agreement, the soccer legend will be a part of Socio’s promotion campaign in the build-up to the Qatar World Cup starting in November. Socios has been expanding rapidly as cryptocurrency hit mainstream media over the past few years. The fan token creators have deals in place with major soccer clubs all over the world, including PSG, Barcelona, Juventus, and Manchester City.

Fan tokens focus on bridging the gap between soccer clubs and their fanbase. By holding the tokens, community members are given the option to vote on new facilities, kit designs, shirt numbers of new signings, celebration songs, and ticket allocations.

Through the deal, Lionel Messi joins a list of sports superstars who have signed multi-million deals to promote crypto and crypto platforms. In January, trading platform and exchange Crypto.com hired basketball star LeBron James for its marketing campaign. In December, exchange platform FTX enlisted NFL champion Tom Brady for a $20 million ad campaign.

CHZ Spike

Soon after the announcement was made, Socio’s native token, Chiliz, reversed its direction and ascended to a near 2-month high at $0322. Two large green candles appeared on the 4-hour chart, highlighting gains of 19% in two sessions alone. However, the daily gain still hovered around 11% due to a correction earlier in the day.