Cristiano Ronaldo Launches New NFT Collection Amid Legal Controversy
The NFT collection will mark some standout moments in Ronaldo's illustrious 20-year career on the pitch.
The specifics of the pricing remain undisclosed for now, but Binance said that most NFTs are slated to have a standard price, except for one ultra-rare piece. The collection promises to give holders special benefits and uses in the field of sport.
The decision has not been without controversy, however. Last November, Ronaldo was sued by someone claiming that he had made improper endorsements for unregistered investment products through his Binance partnership. The case, filed in Florida, reignited discussion on the responsibilities of celebrities when endorsing new digital assets.
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Legal experts suggest Ronaldo may opt for an out-of-court settlement to discreetly clear up the case. The lawsuit serves as a reminder of the many different factors which celebrities know they must calculate when appropriating their famous names to any new blockchain-based venture.
But despite this, more and more major athletes — like Ronaldo — are turning to NFTs and crypto to touch their fans in novel ways, after similar moves by his rival Lionel Messi through the Sorare deal. As usage expands, celebrity NFTs will create evermore unique digital experiences for fans all over the world.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
