Soccer star Lionel Messi has signed a new crypto contract that has him promoting the Socios Platform alongside Chiliz (CHZ-USD) tokens.
Let’s get into everything crypto traders need to know about that deal below!
Messi Crypto Contract
The crypto contract signed by Messi is worth more than $20 million and will have him acting as the face of Socios Platform for three years. It’s worth pointing out that none of the payments made to Messi will be in the form of crypto.
Socios Platform
Socios is a crypto platform that allows users to buy fan tokens for their favorite sports teams. These tokens give them influence over minor decisions made by those teams. The platform also allows users to play games and “win once in a life-time experiences,” in the app.
Chiliz Tokens
At the heart of the Messi crypto contract are Chiliz tokens. Chiliz is the developer of the Socios platform and acts as a blockchain fintech provider to the sports & entertainment industries. Its blockchain uses CHZ as its exclusive on-platform currency. Users have to first acquire Chiliz crypto before they can exchange it for fan tokens on Socios.
CHZ is up 8.5% over a 24-hour period as of Tuesday morning but is down 43.1% over the last year.
Crypto investors searching for more news from the space are in the right place!
InvestorPlace offers up daily coverage of the crypto market that traders need to know about! A few examples include the news sending Polkadot (DOT-USD) crypto higher today, what to expect from new European Union crypto regulations, as well as breakdown of why crypto is breaking out lately. You can get all of this news by checking out the following links!
More Crypto News for Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
