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Tokens From Manchester City to PSG Prove Disappointing

  • Coins for major clubs trade under $20 million per day
  • Critics argue tokens don’t provide fans enough benefits
Paris Saint-Germain’s Argentinian forward Lionel Messi.
Paris Saint-Germain’s Argentinian forward Lionel Messi.Photographer: Thierry Zoccolan/AFP/Getty Images
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As soon as rumors started buzzing that soccer star Lionel Messi would transfer from FC Barcelona to Paris Saint-Germain in August, Miguel Schweizer decided to buy the French club’s fan token, $PSG, on a hunch that prices would spike. They did - but he didn’t hold the tokens for long.

He sold them a few days later, betting the rally would be short-lived. His trade proved correct: prices were down 34% a week later, and 73% from when the tokens were issued after four months.