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Cristiano Ronaldo Launches Fourth NFT Collection With Binance Amid Legal Challenges

ByDayne Lee

May 27, 2024
Cristiano Ronaldo Launches Fourth NFT Collection With Binance Amid Legal Challenges

Cristiano Ronaldo Launches Fourth NFT Collection With Binance Amid Legal Challenges

Cristiano Ronaldo, the renowned Portuguese football icon, has teamed up once again with Binance to release his fourth non-fungible token (NFT) collection. Scheduled to debut on the Binance NFT Marketplace on May 29, this collection is designed to commemorate key moments from Ronaldo’s illustrious football career.

Features of the NFT Collection

According to a recent blog post by Binance, the upcoming NFT collection will feature a series of digital collectibles that highlight significant events and achievements in Ronaldo’s career. This initiative allows fans and collectors to own a piece of football history, encapsulated in digital form. Ronaldo expressed enthusiasm about the launch, 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.”

While the exact number of NFTs in this collection will only be disclosed at the launch, Binance has revealed that each “Normal NFT” will be priced uniformly. However, the pricing for the final “Super Rare NFT” will differ, potentially attracting both average collectors and high-end investors.

Past NFT Launches and Perks

Ronaldo’s previous collaborations with Binance on NFT projects have not only generated significant buzz but have also offered unique perks. For instance, some of the past NFT holders had the exclusive opportunity to meet Ronaldo and even play football with him, courtesy of special promotions by Binance.

Despite the anticipation for the new NFT collection, Ronaldo’s involvement in NFTs has not been without controversy. In November 2023, he was named in a class-action lawsuit filed in a U.S. district court in Florida. The lawsuit accused him of promoting what the plaintiffs classified as unregistered securities through his NFT collections with Binance. Additionally, the lawsuit highlighted that Ronaldo should have been aware of Binance’s involvement in activities deemed questionable by regulatory bodies.

Binance’s Legal Issues

This lawsuit ties into broader legal troubles for Binance, as its founder Changpeng “CZ” Zhao was found guilty in the U.S. of enabling fraud and sentenced in April 2024 to four months in detention. These legal proceedings stem from allegations of money laundering activities associated with the platform, raising concerns about the regulatory scrutiny facing Binance and its associates.

Launch DateCollection FeaturePerks OfferedLegal Implications
May 29, 2024Career highlights NFTsUnique digital collectiblesOngoing lawsuit regarding unregistered securities
Previous LaunchesPersonalized experiencesOpportunities to meet and interact with RonaldoContext of Binance’s legal issues

As Cristiano Ronaldo prepares to launch his fourth NFT collection with Binance, the venture represents both an exciting opportunity for fans and a complex scenario due to ongoing legal challenges. This collection not only seeks to celebrate Ronaldo’s football legacy through digital art but also tests the waters of celebrity involvement in high-stakes crypto ventures amid stringent regulatory environments.

Featured image credit: Starred via GoodFon

Dayne Lee

With a foundation in financial day trading, I transitioned to my current role as an editor, where I prioritize accuracy and reader engagement in our content. I excel in collaborating with writers to ensure top-quality news coverage. This shift from finance to journalism has been both challenging and rewarding, driving my commitment to editorial excellence.

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