Traders are eagerly anticipating the launch of the first tokenized product from crypto token PLANET, in collaboration with soccer legend Lionel Messi, leading to a volatile week for the token. CoinCodex data shows that the token’s volatility reached 6.82% on February 21, which is considered high within the range of 5% to 10%. On February 19, PLANET’s price surged to $0.00011 after Messi announced the release of a tokenized product in partnership with environmental nonprofit organization Join The Planet, resulting in over $23.5 million of trading volume in just 24 hours.
As of now, PLANET is trading at $0.00009, experiencing fluctuations throughout the week. However, the token has seen a 17.9% gain over the previous seven days. The upcoming tokenized product will involve the tokenization of real-world assets (RWA), which involves converting rights to physical or traditional financial assets into digital tokens on a blockchain. Although it hasn’t been disclosed which assets will be tokenized with Messi, the RWA is set to debut on March 1.
The Planet project initially announced its partnership with Messi in July 2023 through a video in which the athlete advocated for environmental sustainability and blockchain technology’s potential in combating pollution. Planet’s strategy takes inspiration from Amazon’s Flywheel model, aiming to offer a wide range of products at a low price to attract more customers. The project plans to use the proceeds from RWA collections to fund decentralized autonomous organizations (DAOs) dedicated to addressing social and sustainability challenges aligned with the United Nations’ Sustainable Development Goals. The project’s goal is to achieve $100 million in annual revenue.
Messi’s involvement in the Web3 space is not new, as he became the official ambassador for crypto exchange Bitget in 2022.