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Argentina Soccer star Lionel Messi took a transfer to the French club, Paris St Germain. As a portion of his welcome package to the club, he has been provided with PSG fan tokens. According to the club, the token binds Argentina stars “with millions of Paris St Germain fans around the globe.” But what exactly are fan tokens?
What Is A Fan Token?
In this world of blockchain, the word “coin” or “token” are often bandied about. But what are tokens and how are they different from coins?
A digital currency is often termed as “coins” or “tokens”. Their aim is to be products of inherent valuation that are built to allow the activity of sale, purchase, and other financial activity to go on. They are intended to offer many of the similar operations as long formulated currencies.
A fan token which is also known as a Utility token offers access to the products and services that are being launched by a project or will be launched in the future and can be utilized as a discount or premium access to a service. There are a lot of tokens that tend to be used especially as a funding operation for companies.
Now you may wonder how a PSG fan tokens crypto will work. As per the Socios website, fan tokens will give the holders the authority to influence decisions of their teams, unlock VIP rewards and access exclusive promotions, chat, games, and also get a superfan recognition.
The PSG Fan Token And Lionel Messi
By using an application, the users can choose what message goes to the armband of the captain, the Paris St Germain bus’s design, and also the design of the curtains in the tunnels of the player at the “Parc Des Princes Stadium”.
Fans will also have the authority to choose the goal of the season and also make they say reachable in the club’s end of season awards. There are some users as well who have received personal video calls from the first team players via the app as well. According to PSG, the app will allow the fans to stay engaged with the club in a more innovative way.
Messi who is 34 years old left the Barcelona club and signed a two year contract with Paris St Germain, with an option of a third year.
In a statement, Paris St Germain asserted that the tokens that are included in the “welcome package” or the signing-on fee have been offered by Socios.com who is the fan token provider of the club.
However, the club did not provide any information regarding the percentage of the deal that the token comprises but said that he has received a “large number”. The club has also not revealed the complete financial package.
Fan tokens are a type of digital currency that enables the users to vote on mainly minor decisions that are associated with their clubs. The clubs that are scheduled to launch their fan tokens include English Premier League champions Manchester City and Italy’s AC Milan.
If you are wondering how to buy PSG fan tokens, then just like Ethereum, Bitcoin, or other digital currencies, PSG fan tokens can also be traded on digital currency exchanges. They also share in common with other digital currencies a habit of wild price fluctuations which leads some financial regulators to provide warnings to the investors. Today the PSG fan token crypto price is USD 34.26. And according to PSG fan token price prediction, the price of PSG fan token will increase in the future.
PSG said that there have been high numbers of its PSG fan tokens after the news of Messi’s transfer to the club spread.
“The hype surrounding the latest signings in the club’s busy summer transfer window created a huge surge of interest in $PSG Fan Tokens, with trading volumes exceeding $1.2 billion in the days preceding the move.”
The move in PSG fan token value can have little connection to on-field results and performance.
Conclusion
PSG fan token has a market cap of $52 million. It increased by over 130% in just 5 days despite predictions over the arrival of Messi at an all time high of $60 on 10.08.2021. As per the coinmarketcap website, this token was down by 10% at about $40 recently.
Frequently Asked Questions On PSG Fan Tokens
1. What is a PSG fan token?
PSG fan tokens are a type of digital currency that enables the users to vote on mainly minor decisions that are associated with their clubs. Just like Ethereum, Bitcoin, or other digital currencies, PSG fan tokens can also be traded on digital currency exchanges. They also share in common with other digital currencies a habit of wild price fluctuations which leads some financial regulators to provide warnings to the investors.
2. What are fan tokens crypto?
A fan token which is also known as a Utility token offers access to the products and services that are being launched by a project or will be launched in the future and can be utilized as a discount or premium access to a service. There are a lot of tokens that tend to be used especially as a funding operation for companies.
3. Where can I buy PSG tokens?
PSG fan token Binance is an option. Other than that you can buy fan tokens on any digital currency exchange.
4. Is a fan token an NFT?
A fan token is a form of non-fungible token or NFT. An NFT is an asset that is stored on a blockchain with a unique identification code. The complete NFT market is worth $2.5 billion. NFTs have increased in popularity in 2021, as the crypto market starts to come into more mainstream use.
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