Football sensation Lionel Messi has revealed his forthcoming RWA collaboration with the Join The Planet initiative, causing a surge in volatility for the project’s native token.
Significant Surge in Token Volatility Recorded on Feb. 21, According to CoinCodex Data
Data obtained from crypto aggregator CoinCodex indicates a notable increase in the volatility of the token, reaching 6.82% on Feb. 21. This figure falls within the range of 5% to 10%, which is generally regarded as high volatility according to standard metrics commonly used to assess market fluctuations.
PLANET’s performance over a seven-day period on Feb. 21. Source: CoinMarketCap
As of the time of writing, PLANET is being traded at $0.00009, exhibiting sudden fluctuations throughout the week. The token has seen a 17.9% increase in value over the past seven days.
Exploring the Tokenization of Real World Assets (RWA) and Lionel Messi’s Involvement with The Planet Project
Tokenization of real world assets (RWA) involves transforming ownership rights to physical or traditional financial assets into digital tokens recorded on a blockchain. This process enables fractional ownership, increased liquidity, and enhanced accessibility to assets that were previously illiquid or difficult to trade. Common assets subject to tokenization include real estate properties, works of art, and various commodities.
While the specific assets to be tokenized through the RWA initiative with Lionel Messi have not been disclosed, the debut is scheduled for March 1. This venture represents a significant step toward democratizing access to valuable assets and expanding the use cases of blockchain technology beyond cryptocurrency.
The collaboration between the Planet project and Lionel Messi was initially announced in July 2023 through a video featuring the renowned athlete advocating for environmental sustainability. Messi emphasized the potential of blockchain technology to combat pollution and promote eco-friendly initiatives. This partnership underscores the growing intersection between sports, celebrity influence, and blockchain innovation in addressing global challenges.
Planet’s Strategy and Messi’s Web3 Involvement
Planet’s strategy draws inspiration from Amazon’s highly successful Flywheel model, renowned for its emphasis on providing a diverse selection of products at competitive prices to attract and retain customers. Similarly, Planet aims to leverage this approach by utilizing collections of Real World Assets (RWA) to support decentralized autonomous organizations (DAOs) dedicated to addressing social and sustainability challenges aligned with the United Nations’ Sustainable Development Goals.
The project’s website outlines its vision to harness RWA collections as a means to fund initiatives that contribute to positive social and environmental impact, thereby aligning its business objectives with broader global sustainability efforts.
In pursuit of its goals, Planet sets an ambitious target of achieving $100 million in annual revenue, reflecting its commitment to both financial success and social responsibility. This target underscores the project’s determination to generate substantial revenue streams while simultaneously making meaningful contributions to societal and environmental well-being.
Meanwhile, Lionel Messi’s involvement in the Web3 space further underscores the growing intersection between sports and blockchain technology. In 2022, Messi entered into a partnership with crypto exchange Bitget, assuming the role of its official ambassador. This collaboration highlights Messi’s recognition of the transformative potential of blockchain technology and his active engagement in initiatives that promote its adoption and integration into various sectors. As a prominent figure in the sports world, Messi’s endorsement serves to amplify awareness and interest in Web3 technologies among his vast global fanbase, further catalyzing the growth and development of the blockchain ecosystem.
