PSG coin price prediction: Can the football fan token regain value?
Edited by Alexandra Pankratyeva
15:07, 31 May 2022
The cost of being partly paid in crypto may have got heavier for Lionel Messi, one of the world's greatest footballers, having become the first player to receive a signing bonus that included cryptocurrency tokens when he joined Paris Saint-Germain (PSG) in last August’s player transfer window. The price for the Paris Saint-Germain fan token (PSG) continues to struggle after falling heavily in recent months.
Messi is reported to have received a "significant" payment in the club’s crypto fan token. When he signed the contract the PSG/USD price surged to $61.23 (it had already been rising on rumours he was about to sign).
The token was trading at just $7.49 at the time of writing (31 May), having bounced up after dropping to a low of $4.08 on 12 May, the lowest price since it launched in June 2020. If Messi’s deal was signed around 10 August when the price was close to $40, his "significant" number of coins would now be worth 80% less.
So, what is the PSG coin and what is it used for? What drives its value today? Could Messi get his value back? In this article, we answer those questions and look at the latest expectations for the coin’s long-term price outlook.
PSG launched one of the first football fan tokens
PSG was one of the first football clubs to launch its own cryptocurrency on the Chiliz blockchain, which runs the Socios.com platform for sports crypto tokens. The partnership was announced in 2018 and the Paris Saint-Germain Fan Token launched in January 2020.
Football fan tokens emerged during the Covid-19 pandemic as a way for clubs to engage with their fans and generate new revenue streams while matches were suspended or played without an audience. The PSG cryptocurrency is one of several fan tokens launched since the start of 2020.
Hundreds of thousands of CHZ coins and a limited number of PSG Fan Tokens were made available for free from mid-January until the launch on 28 January 2020 through the Socios.com app. Fans who collected CHZ coins in daily token hunts were able to use the coins to purchase PSG Fan Tokens.
Holders of the Paris Saint-Germain Fan Token earn reward points that give them the opportunity to access unique experiences and exclusive club merchandise. The club said: “Experiences could include the chance to watch a match from the VIP area at the Parc des Princes and meet stars from the team as well as club legends.
Holding the token also gives fans the ability to vote in several binding and non-binding polls on the Socios.com app each season. “All polls take place in a secure environment, and all votes cast are registered on the blockchain, so the results are transparent and can’t be altered,” PSG said. The first vote when the token launched allowed fans to choose an inspirational message to go inside the captain’s armband.
Since the token launched, Paris Saint-Germain fans have been able to choose a motivational message to be displayed on the wall of the players’ dressing room before a key game, as well as voting on the goal of the season and the winners of awards at the end of the season. Fans have also received personal video calls from players via the Socios.com platform.
On 10 September 2021, the club announced a deal with cryptocurrency platform Crypto.com. The partnership will include the release of exclusive non-fungible tokens (NFTs) on the platform. Crypto.com will pay a “significant portion” of the sponsorship fee using the CRO cryptocurrency token.
More recently, PSG token holders have been able to select between three designs of the new roof ridge visual at the Parc des Princes stadium, choose the design of the FIFA 22 - PSG Limited Edition console game, and interview several players.
PSG price reflects fan token volatility
Each token was priced at around €2 when it launched, which was equivalent to around $2.20. While the token is designed for fans to get involved in the team and win rewards, it can also be traded on exchanges much like other cryptocurrencies, which has attracted investors looking to make a profit from buying and selling.
The PSG token price briefly touched $10 in August 2020 then fell back to $5.78 the following month. It spiked in December 2020 from $9.15 at the start of the month to $29.96 on 21 December but then dropped back to $14.07 on 23 December and continued to decline heading into 2021.
The chart shows that the PSG price began to rally in February 2021 along with the broader cryptocurrency rally, peaking at $58.91 on 27 April. The token then followed the markets lower, trading down to $10.79 on 22 June. The price spiked again to $54.87 on 9 August, as interest in the token surged during the club’s summer transfer window.
Trading volumes exceeded $1.2bn in the days leading up to Messi’s move, the club said. The price jumped to its all-time high of $61.23 on 10 August when the signing was announced.
Since that excitement died down the price has been in a steady decline. The token ended 2021 at $15.10 and has continued to shed value in 2022. The price attempted to cover in February and March but was unable to hold onto the gains. The token accelerated its losses from late April, dropping from the $15 level to its all-time low of $4.08 on 12 May.
There are currently 3.1m PSG Fan Tokens in circulation, of a maximum supply of 20m. At the time of writing (31 May), the token had a market capitalisation of around $23.4m.
What is the outlook for the PSG token price? Is this football crypto an asset you should consider for your portfolio? Read on for a PSG fan token prediction roundup.
PSG coin price prediction: How will the token trade in the future?
Technical analysis from CoinCodex was bearish at the time of writing (31 May), with 25 indicators showing sell signals compared with only two buy signals. The stochastic relative strength index and the volume weighted moving average were among the sell signals, while the Hull moving average (HMA) showed a buy signal.
CoinCodex’s PSG crypto price prediction showed the token’s value dropping by 8.37% to reach $6.89 by 5 June.
The PSG coin price prediction 2022 from Wallet Investor was also bearish, showing the coin dropping to $1.032 by the end of the year. For the future, the algorithm-based forecast website predicted that the price could fall further to $0.659 by the end of 2023 and $ 0.470 by the end of 2025. The projection showed that the token’s value could trade at $0.414 by mid-2027.
The Paris Saint-Germain fan token prediction from DigitalCoinPrice was bullish however, projecting that the coin could rise to an average price of $14.48 by 2025 and $36.63 by 2030, up from $10.03 in 2022, based on historical data.
Price Prediction’s PSG coin forecast was also bullish for the long term, rising from an average of $5.50 in 2022 to $8.07 in 2023 and $17.53 in 2025. The website’s deep artificial intelligence-assisted technical analysis assigned the coin a target price of $108.14 for 2030, surpassing the previous high above $60.
It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it hard to predict what the price of the PSG coin will be in a few hours – and even harder to give longer-term estimates.
We recommend you always do your own research and consider the latest market trends and PSG crypto news, technical and fundamental analysis, and expert opinion before making any trading decisions. And never trade money you cannot afford to lose.
Is PSG coin a good investment?
Fan tokens are a relatively new form of cryptocurrency, which carry a higher risk than many other types of assets. Whether the PSG coin is a suitable asset for you depends on your personal financial circumstances, risk tolerance and the other investments in your portfolio. It’s important that you always do your own research. And never trade money you cannot afford to lose.
Will PSG coin go up?
The PSG token’s performance is influenced by prices and sentiment on the broader cryptocurrency markets, as well as interest in the Paris Saint-Germain football club.
As of 31 May, forecasting sites DigitalCoinPrice and Price Prediction projected that the price for the PSG Fan Token could rise in the future. However, Wallet Investor expected the price of PSG coin could decline in the next couple of years.
Note that algorithm-based forecasts are based on historical performance and past performance never guarantees future results.
Can PSG crypto reach $100?
The most bullish forecast from Price Prediction (as of 31 May) expected the PSG fan token price to surpass $100 in 2030. Whether you believe that prediction is a decision only you can make. It’s vital to carry out your own research.
Markets in this article
Crypto.com Coin / USD
Crypto.com Coin / USD
Chiliz / USD
Chiliz / USD
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