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Soccer Powerhouse Paris Saint-Germain Names Crypto.com as Cryptocurrency Partner
The exchange will pay a large part of its sponsorship fee with its CRO token.
European soccer giant Paris Saint-Germain named crypto exchange Crypto.com as its official cryptocurrency platform partner, the firm said Thursday.
- The agreement will include the issuing of exclusive non-fungible tokens (NFTs) on the Crypto.com NFT platform.
- Crypto.com will pay a large part of its sponsorship fee with its CRO token. “The multi-year partnership is in the range of 25M–30M Euros, with a significant portion paid in CRO,” the exchange’s CMO, Steven Kalifowitz, told CoinDesk via email.
- Crypto.com co-founder and CEO Kris Marszalek said the partnership with Paris Saint-Germain would help the company achieve its mission of accelerating “the world’s transition to cryptocurrency.”
- The partnership is just the latest example of the growing intersection of professional soccer and crypto – with Paris Saint-Germain one of the main participants of late.
- In August, the storied club, which has won seven of the last nine championships in France’s top professional league, included a payment of crypto fan tokens to help complete the acquisition of star forward Lionel Messi from FC Barcelona.
- As of Friday, the PSG fan token will be available on Crypto.com, Kalifowitz said.
- Club forward Lionel Messi also became part of the NFT trend last month with the launch of “The Messiverse,” featuring crypto artworks celebrating his career by Australia-based digital artist BossLogic.
STORY CONTINUES BELOW
Read more: Lionel Messi’s Paris St. Germain Transfer Included Crypto Fan Tokens
Jamie Crawley contributed reporting.
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
