NFT

Cristiano Ronaldo’s Binance Partnership Looks To Bring Football Fans Into Web3

By providing exclusive engagement opportunities for fans.

NFT

Cristiano Ronaldo’s Binance Partnership Looks To Bring Football Fans Into Web3

By providing exclusive engagement opportunities for fans.

Football star Cristiano Ronaldo signed an exclusive, multi-year, non-fungible token (NFT) deal with crypto exchange Binance on Thursday, June 23, to help bring fans into the Web3 space.

During the course of the partnership, both Binance and Ronaldo will create a series of collections for sale exclusively on Binance’s NFT platform. According to the announcement, the first collection will be released later this year and will feature designs created in collaboration with the Portuguese soccer star.

“Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries,” said Binance Founder and CEO Changpeng “CZ” Zhao.

“He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work. We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

While NFTs are starting to gain traction amongst football clubs around the globe, the drive to bring clubs and players closer to fans remains strong.

Back in March, Argentinian football star Lionel Messi signed a three-year, $20 million deal with Socios.com to help major sports teams create “fan tokens,” which allows fans to weigh in on certain decisions of their favorite teams.

However, during the current market crash, the billion-dollar NFT market is a tough sell to new investors.

Liverpool FC’s NFT collection, which launched in March, went 90% unsold — creating a cause for concern for many in the space.

“[Soccer] is being used to legitimize NFTs and market them as an investable asset, and that’s a cause for concern,” an academic specializing in the accountancy of soccer teams told INSIDER.

Manchester United and France midfielder Paul Pogba also promoted the CryptoDragons project to his 10 million Twitter followers, with one of the digital assets selling for $162,000 USD (35 ETH), only to drop down to a floor price of $32 USD (0.018 ETH) six months later. Former Chelsea captain John Terry, who launched “Ape Kids Football Club” in February, also faced similar challenges after the entire NFT collection crashed 90% in a single month, from an initial average trading value of $656 USD to $65 USD.

“My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be part of,” said Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”

In other news, LooksRare Adds ‘Conditional NFT Listing’ To Its Marketplace.

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