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28/05/2024Cristiano Ronaldo Unveils 4th NFT Collection with Binance Amid $1B Lawsuit
Portuguese football superstar Cristiano Ronaldo has announced the launch of his fourth non-fungible token (NFT) collection in collaboration with Binance, despite being embroiled in a $1 billion lawsuit. The new collection is scheduled to launch on May 29 on the Binance NFT Marketplace, celebrating Ronaldo’s illustrious career and featuring highlights from his journey in football.
Details of the New NFT Collection
In a blog post from Binance, Ronaldo shared his excitement about the new collection, stating: “My football journey has seen me travel around the world, and I’ve been honored to play for some of the most prestigious clubs out there. Now it’s your turn to join me on that journey too.”
The number of NFTs included in the new collection will remain undisclosed until the series launches. However, it has been confirmed that the pricing for the “Normal NFT” items will be fixed, while the “Super Rare NFT” in the collection will have a different price point.
Previous NFT Events and Perks
Cristiano Ronaldo’s previous NFT launches with Binance have offered unique perks beyond the digital realm. These events included premium experiences, such as opportunities for NFT holders to play football with Ronaldo as part of Binance’s promotional activities.
Ongoing Legal Issues
As reported by Cointelegraph in November 2023, Ronaldo is currently facing a class-action lawsuit in a United States district court in Florida. The lawsuit pertains to his involvement in previous NFT sales with Binance. The plaintiffs allege that Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance,” and argue that he should have been aware of Binance’s alleged activities.
This legal action is part of a broader issue involving Binance, which has faced multiple legal challenges. Binance founder Changpeng “CZ” Zhao was found guilty in the U.S. of enabling fraud and sentenced in April 2024 to serve four months in detention for his role in an alleged money laundering scheme.
Market Impact and Future Prospects
Despite the ongoing lawsuit, Ronaldo’s partnership with Binance for this new NFT collection highlights the continued interest and investment in the NFT market. The collaboration aims to attract fans and collectors by offering a piece of Ronaldo’s legacy through digital collectibles.
The upcoming launch on May 29 is expected to generate significant interest, given Ronaldo’s global popularity and the growing adoption of NFTs. The fixed pricing strategy for most items in the collection is likely designed to make the NFTs accessible to a broad audience, while the unique pricing for the “Super Rare NFT” will cater to serious collectors and investors looking for exclusive items.
Conclusion
Cristiano Ronaldo’s fourth NFT collection with Binance is set to launch amid significant legal challenges. Despite these issues, the collaboration underscores the ongoing demand for digital collectibles and the potential for high-profile partnerships in the NFT space. As the legal proceedings unfold, it remains to be seen how they will impact Ronaldo’s ventures in the NFT market. Nevertheless, the upcoming launch is poised to attract attention and engagement from fans and collectors worldwide.
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