The crypto token PLANET is set to have a tumultuous week as traders eagerly anticipate the launch of its first tokenized product in collaboration with soccer legend Lionel Messi. According to data from crypto aggregator CoinCodex, the token’s volatility soared to 6.82% on February 21, which is considered to be high within the range of 5% to 10% volatility. On February 19, PLANET’s price surged to $0.00011 after Messi announced the release of a tokenized product in partnership with Join The Planet, an environmental nonprofit organization responsible for the PLANET token. This announcement generated over $23.5 million in trading volume within 24 hours.
As of now, PLANET is being traded at $0.00009, experiencing frequent fluctuations throughout the week. Over the past seven days, the token has gained a significant 17.9% in value. The tokenization of real-world assets (RWA) involves converting rights to physical or traditional financial assets into digital tokens on a blockchain. While it is yet to be revealed which assets will be tokenized with Messi, common examples of tokenized assets include real estate, art, and commodities. The RWA is scheduled to debut on March 1.
The Planet project initially announced its partnership with Messi in July 2023 through a video where the athlete advocated for environmental sustainability and blockchain technology’s role in combating pollution. Planet’s strategy draws inspiration from Amazon’s Flywheel, a business model that focuses on offering a wide range of products at competitive prices to attract more customers. According to the project’s website, the goal is to utilize the collections from tokenized assets to fund decentralized autonomous organizations (DAOs) dedicated to addressing social and sustainability challenges aligned with the United Nations’ Sustainable Development Goals. “Our target is an ambitious $100 million in annual revenue,” states Planet’s page.
Messi has been actively involved in the Web3 space for some time. In 2022, he became the official ambassador for crypto exchange Bitget through a partnership.