Lionel Messi Signs Second Crypto Partnership With Bitget

Bitget is also hosting its biannual derivatives tournament, KCGI, themed around football and the World Cup, with a prize pool of up to 100 Bitcoin and popular fan tokens. This is all part of Bitget’s efforts to help reassure investors and benefit Bitget users with different initiatives, as enthusiasm towards the World Cup helps facilitate the connection between the crypto universe and the sports world. Argentine professional footballer Lionel Messi has signed a deal worth over USD 20m to promote digital fan token company Socios.com in another sports-crypto marketing effort. In a $20 million three-year contract, renowned Argentinian football player Lionel Messi has become the global brand ambassador for blockchainfan tokenplatformSocios.

Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. As part of the deal, the Argentine attacker will become a key lead for the crypto company. He will also feature in a promotion ahead of the 2022 World Cup in Qatar. Furthermore, Socios have been on the receiving end of some allegations of non-payment. Their CEO Alexandre Dreyfus reportedly advised the company to not pay ambassadors in their cryptocurrency.

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Whilst many celebrity themed https://www.beaxy.com/ collections are not 100% transparent, this collection is hosted by one of the biggest crypto exchanges in the world. Teams in a number of different sports are making sponsorship deals with crypto companies. For instance, Red Bull Racing signed a massive £111 million, 3-year deal with exchange company Bybit.

Inter Milan signed a sponsorship deal with Socios.com which sees Inter Fan Tokens emblazoned on the team’s jersey. Dreyfus admits the pandemic and resulting economic crisis has benefited his company, allowing them to multiply their partnerships. LINK The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. Timely, daily updates provide the latest developments and news relied upon by industry leaders.

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However, not everyone in the crypto messi space is in favor of such deals, particularly since celebrities usually have little to no information about what they are endorsing. As part of the deal, Messi will be involved in a promotion campaign for Socios in the 2022 FIFA World Cup, which is scheduled to take place in Qatar from November 21 to December 18, a source close to the deal has told Reuters. Bitget has announced a 1 million BGB, and a signed Lionel Messi jersey as giveaway prizes. “This is more a top-up that is never going to replace any compensation. It is more like a bonus, but it is a bonus that at some point players will start to ask for,” Dreyfus tells AFP from his office in Malta. Messi has brought more publicity, and Dreyfus believes the Argentinian will “set a trend”.

Coming from both Cristiano Ronaldo and Lionel Messi, two of the biggest names in Football/Soccer. The actual correlation between the team’s performance and the value of its coin is more difficult to parse. The $ARG peaked at ​​just under $9 on November 18, four days before Argentina played its debut match. When Argentina lost its first game to Saudi Arabia, the $ARG plummeted in value from roughly $7.20 at the start of the match to $4.96. After the team defeated Croatia on Tuesday, the $ARG hit a peak of 70% from the start of the match, reaching $5.5.

The news follows pushback from fan groups over the platform’s deal with UEFA. PRESS RELEASE. Seychelles, Nov 26, 2022 – Leading global cryptocurrency exchange, Bitget, has announced a series of marketing campaigns with Lionel Messi, the Argentinian Football legend, with the launch of the brand film to celebrate the 2022 World Cup. With this USD 20 Million investment in campaigns and rewards, Bitget aims to benefit users with attractive rewards, help enhance market sentiment and reignite confidence in the crypto industry. To encourage the creation of more revolutionary, creative and state-of-the-art projects created in the crypto space, Poloniex, a global crypto exchange, has listed more than half of the aforesaid fan tokens to connect users to the power of utility tokens. Moreover, Poloniex has launched an “earn to learn” campaign to allow users to answer questions and get a chance of sharing $120,000 worth of fan tokens.

As reported, American football star Tom Brady took an undisclosed equity stake in crypto derivatives exchange FTX in June last year and became an ambassador for the company. In the five days leading up to the announcement, PSG fan token prices rose by over 130%, reaching a high of$50 per tokenon the day of the announcement. Total transactions amounted to$1.2 billionand generated almost $30 million in revenue. As of today, PSG fan token prices are sitting slightly above $14 as a reminder of the risks involved. Fans are concerned about the social division that monetizing fan engagement can have on the football community and the perception that the vast majority of Socios token holders are crypto speculators and not football fans. Supercar Blondie finds and covers the coolest cars, tech, luxury and gaming in the world.

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The question is whether Messi’s brand will result in Socios receiving the benefit of the doubt from some skeptical fans through the player’s standing in the football industry. And Messi will have to tread carefully after the UK’s Advertising Standards AuthoritycensuredArsenal Football Club over a Socios promotion. As a global brand ambassador, he will be expected to promoteSocioson his accounts as well as appear in promotional content. Trading and investing in digital assets may involve significant risks including price volatility and illiquidity. Investors should be fully aware of the potential risks and are not to construe the content of the report as the only information for investment activities. None of the products or TokenInsight Inc, nor any of its authors or employees shall be liable to any party for its direct or indirect losses alleged to have been suffered on account thereof.

Over the course of the World Cup, the coin fluctuated in value based, apparently, on sentiment about the Argentine national team’s overall performance. With a market cap currently valued at over $24 million, coin holders not only risk losing to France in the World Cup final, but potentially some money as well. Other sports stars like soccer player Kylian Mbappe and tennis player Serena Williams have already established similar partnerships with the brand. The platform raised $680 million in its Series B funding round in Sept. 2021.

For the first article of the “Crypto in Sports” series, we will first introduce these three fan tokens: CITY, AFC and…

We would like to celebrate the football spirit in the world of crypto and are prepared to continue investing in the ecosystem even when times are tough,” Gracy adds. In addition, staff of the crypto platform claimed Socios didn’t pay them until they threatened legal action, according to the Daily Mail. Messi’s move to strike a crypto partnership follows similar deals by other professional athletes like NFL quarterback Tom Brady and NBA star LeBron James. However, according to the source, Messi’s “ambassador” deal with Socios does not include crypto payments and is a three-year agreement.

Before joining the , he was an editor and multimedia talent for several sports and culture verticals at Minute Media and an editor, reporter, and site manager at SB Nation. A specialist in content strategy, copywriting, and SEO, he has additionally worked as a digital consultant in the corporate services, retail, and tech industries. He cannot be expected to be impartial on any matter regarding the Florida Gators or Atlanta Braves. On Tuesday, Socios announced legendary forward Lionel Messi, already a veteran of his first-ever NFT collection, as its first-ever global ambassador. Despite the debate surrounding crypto companies, the lucrative financial possibilities keep sports teams and players interested in the blockchain. Lionel Messi is understood to have received payment in fan tokens on signing for PSG.

• In a $20 million three-year contract, renowned Argentinian football player Lionel Messi has become the global brand ambassador for blockchainfan tokenplatformSocios.
• The company now has multiple on-camera talents and a team of producers, editors, and social media executives.
• Sorare hopes that Messi’s presence will improve the way in which the company relates to users, setting new standards in this regard.
• Although PSG didn’t reveal the sign-on fee with Messi, Forbes estimated that the Argentine makes $75 million annually and the earnings consist of bonuses, royalty fees, a cut of player rights, including jersey sales, and beyond.
• The French team, which is facing Argentina in the final, also has a fan token.
• The question is whether Messi’s brand will result in Socios receiving the benefit of the doubt from some skeptical fans through the player’s standing in the football industry.

Some of Europe’s elite like Barcelona, Juventus, Arsenal, and Manchester City have deals with the Cryptocurrency platform. Lionel Messi, the global soccer superstar, has signed his second crypto partnership, inking a deal with cryptocurrency exchange Bitget. But, it’s interesting to note that Messi’s reimbursement included $PSG, the official fan tokens of PSG, which made him the first high-profile player to accept such a novel payment in the football industry.