PSG fan token price doubles with Messi transfer talks

ANKARA

The price of Paris Saint-Germain (PSG) fan token nearly doubled Tuesday in less than three days after football superstar Lionel Messi left Barcelona and the Argentine is in transfer talks with PSG.

Messi, 34, announced leaving Barcelona after 21 years in the Spanish powerhouse in a news conference on Sunday when he received a standing ovation followed by his farewell speech in tears.

He said there were multiple clubs interested in him with PSG as "one possibility" although he said nothing is confirmed yet.

Fueled by Gulf investment, PSG pursued Messi for years, aiming to win the top-tier European competition UEFA Champions League.

After Qatar Sports Investments purchased the club in 2011, PSG kicked off a long-term project to create a powerful team.

The fans have shown strong interest in PSG's fan token amid the latest transfer talks with Messi.

The price of the token, $PSG, has hit $61.23 around 1100GMT on Tuesday, jumping 98.3% since Sunday when it opened that day at $30.87, according to data by digital asset price-tracking website CoinMarketCap. The token's market value climbed to almost $80 million.

The price of FC Barcelona's fan token, $BAR, on the other hand, was hovering around $26.6 at the time with a market cap of $78 million, after it opened Sunday at $23.3.

Fan tokens are digital assets like cryptocurrencies launched by sports teams. They can provide holders certain voting rights and participation in important club decisions, and provide access to rewards, merchandise, and experiences related to the club.

Pure Barcelona product Messi, who came from the club's youth academy La Masia, became a free agent on July 1 when his contract with the club expired.

The negotiations between Messi and Barcelona failed due to financial obstacles while President Joan Laporta blamed Spanish La Liga's rigid financial fair play regulations for Messi’s departure.

For his future, Messi has been linked to PSG but the talks between him and the French club have not been finalized yet.

Having made his senior debut in Barcelona in 2004, Messi led the Spanish club to earn 10 La Liga and four UEFA Champions League titles.

The six-time Ballon d'Or award holder also won seven Copa del Rey, eight Spanish Super Cups, three FIFA Club World Cups, and three UEFA Super Cups.

Messi is also Barcelona's all-time top scorer with 672 goals in 778 appearances.