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Do teams pay players in cryptocurrency? Which cryptocurrency is the most used?
Cryptocurrency is often used for endorsement deals, fan tokens, and some bonuses. Some clubs have explored or announced plans to partially pay players in cryptocurrency, but it is not yet common practice.
Current trends in the use of cryptocurrency in sports
Sponsorship offers: Many sports teams have partnerships with cryptocurrency companies. These deals often include cryptocurrency payments, brand visibility, and the creation of team-specific fan tokens.
Example: FC Barcelona has teamed up with Chiliz to launch a fan token ($BAR), which allows fans to participate in certain club decisions.
Fan Tokens: Clubs issue their own cryptocurrencies (fan tokens) which fans can purchase, exchange and use to interact with the club in various ways, such as voting on club issues.
Popular platforms: Socios.com (powered by Chiliz) is a leading platform for fan tokens, collaborating with clubs such as Paris Saint-Germain, Juventus and Manchester City.
Bonuses and incentives: Some clubs and players have received or offered cryptocurrency bonuses. This is more common than full salaries paid in cryptocurrency.
Current trends in the use of cryptocurrency in sports
Lionel Messi: After joining Paris Saint-Germain (PSG), part of Messi’s welcome package included fan tokens ($PSG) as a bonus.
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David Barral: In January 2021, David Barral became the first footballer to be officially transferred using cryptocurrency (Bitcoin) when he moved to DUX Internacional de Madrid.
Second cryptonews The integration of cryptocurrency into sports is expected to increase, especially as digital currencies and blockchain technology become more widespread. However, the widespread use of direct salary payments faces challenges, such as regulatory issues, cryptocurrency volatility, and traditional banking preferences of players and clubs.