The crypto token PLANET is preparing for a tumultuous week as traders eagerly anticipate the launch of its first tokenized product in partnership with soccer icon Lionel Messi. CoinCodex, a crypto aggregator, reported that the token’s volatility reached 6.82% on February 21, which is considered 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 the tokenized product in collaboration with Join The Planet, an environmental nonprofit organization associated with the PLANET token. Within 24 hours, the token accumulated over $23.5 million in trading volume.
As of now, PLANET is being traded at $0.00009, experiencing sudden fluctuations throughout the week. Over the past seven days, the token has gained 17.9% in value.
Tokenization of real-world assets (RWA) involves transforming rights to physical or traditional financial assets into digital tokens on a blockchain. While the specific assets that will be tokenized with Messi have not been revealed yet, common assets for tokenization include real estate, art, and commodities. The RWA is set to debut on March 1.
The Planet project initially announced its partnership with Messi in July 2023 through a video featuring the athlete advocating for environmental sustainability and blockchain technology’s role in combating pollution.
Inspired by Amazon’s Flywheel, Planet’s strategy focuses on offering a wide range of products at affordable prices to attract more customers. The project aims to utilize RWA collections to fund decentralized autonomous organizations (DAOs) that address 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 website.
Messi has been involved in the Web3 space for some time, previously partnering with crypto exchange Bitget in 2022 and becoming its official ambassador.