The five-time Ballon d’Or winner becomes the latest famous athlete to strike a lucrative partnership with a digital asset firm.
Cristiano Ronaldo has joined an exclusive non-fungible token (NFT) partnership with Cryptocurrency exchange Binance.
Binance announced the multi-year agreement on Thursday. The deal will involve Ronaldo and Binance creating a series of NFT collections to sell on the company’s platform. The first collection will be available for release later this year.
In a statement, Binance noted the partnership seeks to connect the Manchester United forward with his fans by leveraging Web3 with NFTs acting as an entry point.
“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 a part of. I know the fans are going to enjoy the collection as much as I do,” said Ronaldo.
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
The NFT space is growing
Ronaldo joins a growing list of athletes and sports entities to hop onto the NFT trend across the world.
Even the 2022 FIFA World Cup has embraced cryptocurrency by partnering with Crypto.com for this year’s tournament in Qatar. Blockchain Algorand became a partner for FIFA itself last month.
The Premier League has also filed two trademark applications to increase interaction with fans.
Manchester United, meanwhile, closed a multi-year deal with blockchain company Tezos back in February. The deal is worth a reported $27 million per year.
Paris Saint-Germain star Lionel Messi became a global brand ambassador for crypto fan token company Socios in March.
That said, however, the price of Bitcoin has fallen by over 70% since peaking late last year. The decline in prices and drop in trading have affected the stocks of crypto exchanges. But Binance insists it remains financially healthy, and with the Ronaldo partnership in tow, is pushing ahead with its lofty ambitions.