PLANET Token Volatility Soars Following Lionel Messi’s RWA Partnership

The crypto token PLANET is experiencing a week of instability as traders eagerly anticipate the launch of its first tokenized product in partnership with soccer legend Lionel Messi. Data from crypto aggregator CoinCodex 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 climbed to $0.00011 after Messi announced the tokenized product, generating over $23.5 million in trading volume within 24 hours. Currently, PLANET is trading at $0.00009 with fluctuating ups and downs throughout the week, reflecting its volatile nature. Over the past seven days, the token has gained 17.9% in value.

Tokenization of real-world assets (RWA) is the process of converting physical or traditional financial assets into digital tokens on a blockchain. Common assets that have been tokenized include real estate, art, and commodities. The specific assets that PLANET will tokenize in collaboration with Messi have not been disclosed. The debut of the RWA is scheduled for March 1. In July 2023, the Planet project first announced its partnership with Messi through a video where the soccer player advocated for environmental sustainability and the utilization of blockchain technology to combat pollution.

The Planet project is inspired by Amazon’s Flywheel business model, which focuses on offering a wide range of products at affordable prices to attract more customers. According to the project’s website, PLANET aims to use the proceeds from RWA sales to support decentralized autonomous organizations (DAOs) that address social and sustainability challenges aligned with the United Nations’ Sustainable Development Goals. The project sets an ambitious goal of achieving $100 million in annual revenue.

Messi has been involved in the Web3 space for some time. In 2022, he partnered with crypto exchange Bitget and became its official ambassador. This collaboration with PLANET further highlights his interest and involvement in the cryptocurrency industry.

The upcoming launch of the tokenized product in collaboration with Lionel Messi has generated excitement and attracted traders to the PLANET token. With its volatile price movements and a focus on utilizing RWA sales to fund social and sustainability projects, PLANET aims to make a significant impact in the crypto space.