Do teams pay players in cryptocurrency? Which crypto is the most used?

Cryptocurrency is often used for sponsorship deals, fan tokens, and certain bonuses. Some clubs have explored or announced intentions to pay players partially in cryptocurrency, but it’s not yet a common practice.

Current Trends in Cryptocurrency Use in Sports

Sponsorship Deals: Many sports teams have partnerships with cryptocurrency companies. These deals often include payments in cryptocurrency, brand visibility, and the creation of team-specific fan tokens.

Example: FC Barcelona partnered 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) that fans can buy, trade, and use to engage with the club in various ways, such as voting on club matters.

Popular Platforms: Socios.com (powered by Chiliz) is a leading platform for fan tokens, partnering with clubs like Paris Saint-Germain, Juventus, and Manchester City.

Bonuses and Incentives: Some clubs and players have received or offered bonuses in cryptocurrency. This is more common than full salaries being paid in crypto.

Current Trends in Cryptocurrency Use in Sports

Lionel Messi: Upon 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.

According to cryptonews integration of cryptocurrency in sports is expected to grow, especially as digital currencies and blockchain technology become more mainstream. However, widespread use for direct salary payments faces challenges, such as regulatory issues, volatility of cryptocurrencies, and traditional banking preferences of players and clubs.