Binance Teams Up with Cristiano Ronaldo for a Multi-Year NFT Deal

Binance just announced a new partnership, and this time, the world’s largest exchange by trading volume managed to bag a deal with one of the world’s largest and most famous football stars — Christiano Ronaldo himself. According to Binance’s tweet, the two are kicking off an exclusive multi-year NFT partnership.

The partnership will provide Ronaldo fans, NFT fans, and sports fans, in general, with the unique opportunity to own an iconic piece of sports history. Not only that, but it will also allow them to join CR7’s Web3 community, according to the announcement.

#Binance 🤝 @Cristiano 🐐

We're kicking off an exclusive multi-year NFT partnership with football legend Cristiano Ronaldo.

This is your opportunity to own an iconic piece of sports history and join CR7's Web3 community. pic.twitter.com/3j1lKcqrbn

— Binance (@binance) June 23, 2022

Christiano Ronaldo goes NFT with Binance

Celebrities — and especially sports stars — have been entering crypto at various stages of the industry’s development. One particular spike happened in 2017, when the major bull run made crypto famous on a global stage. With Bitcoin rushing towards $20,000 per coin, ICOs were booming all over the world, and celebrities started getting involved, promoting these projects.

Of course, the ICO trend eventually failed, but the industry recovered and moved on. With the rise of non-fungible tokens (NFTs) in 2021, however, many feared that the same scenario will play out again. However, it didn’t, and as time moved on, even the most cautious sports players, movie stars, singers, and other celebrities started entering the NFT sector.

And so now, as of mid-2022, the same is true for Portuguese football legend Cristiano Ronaldo. Ronaldo is not only a legend of the football world, but also a highly popular and extremely reputable celebrity and influencer, and his partnership with Binance is bound to have quite an echo in the crypto world.

Ronaldo fans will likely move to the exchange in order to start buying NFTs, and his partnership with the exchange will likely grant Binance an additional dose of legitimacy among those who may have been skeptical about the exchange so far.

In any case, Cristiano Ronaldo signing a multi-year NFT deal will likely result in a wave of adoption of NFTs and possibly crypto, and it will bring new products to the NFT market.

Tokenizing an iconic part of sports history

One thing to note, however, is that Binance likely doesn’t see the deal with Ronaldo as a way of legitimizing its service. After all, the exchange has a long-standing campaign that warns against celebrity ads for different crypto projects. The exchange even hired celebrities and experts to help out with spreading the warning.

Instead, its partnership with Ronaldo has the goal of tokenizing an iconic piece of sports history and offering it to sports fans. Ronaldo himself said as much in his own announcement of the partnership.

The partnership has already had a rather positive influence on Binance, however, with the price of BNB going up by 4.32% in the last 24 hours, following the reveal. The token, which was trying to breach the $224 level yesterday prior to the announcement, managed to go up by nearly $10, almost hitting $234 before it corrected to $230, which is where it sits at the time of writing.

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