Stephanie Douse 
Lionel Messi has inked a $20 million ambassador contract with the fan token app Socios.com. The news has drawn a lot of attention to the Chiliz token
Lionel Messi and Socios.com Join Forces
Lionel Messi has inked a $20 million ambassador contract with the fan token app Socios.com. The news has drawn a lot of attention to the Chiliz token.
Since the firm announced a relationship with one of the world’s best soccer players, the native token for the Socios.com platform has risen in value.
Lionel Messi, one of football’s most powerful players, has inked a multi-million dollar deal to become Socios.com’s global brand ambassador.
The Argentine athlete will be a significant figure in Socios.com’s publicity and promotion activities leading up to the Qatar World Cup 2022, which begins in November.
Messi will be the face of Socios.com for three years under the deal, which is worth more than $20 million.
Messi said he’s “glad” to be a part of Socios.com because it focuses on improving the fan experience. “Fans deserve to be rewarded for their support,” he said in a statement, adding that it’s critical to give them a say in the clubs they cheer for. Socios.com, he claims, has established a new way to connect and reward followers all around the world.
Chiliz Jumps After Socios.com $20M Messi Deal
Messi’s arrangement does not incorporate bitcoin payments, unlike some other recent crypto sports deals. CHZ, on the other hand, appears to be gaining from the news.
Since the introduction, the price of the fan token has increased by over 30%. The platform Socios.com is powered by Chiliz.
The recent advances have pushed CHZ into overbought territory, prompting a sell signal on the daily chart from the Tom DeMark (TD) Sequential indicator. A green nine candlestick formed the bearish shape, indicating a one to four daily candlestick correction.
Before the upswing begins, a surge in profit-taking around present price levels might drop CHZ to $0.28 or possibly $0.24.
A break of the $0.33 resistance level, on the other hand, could invalidate the short-term bearish prognosis. If CHZ is able to break past this important resistance level, it might reach $0.42.