Cristiano Ronaldo launches Binance NFTs despite facing $1B lawsuit

Cristiano Ronaldo Launches Fourth NFT Collection with Binance

Football superstar Cristiano Ronaldo has announced the release of his fourth non-fungible token (NFT) collection in partnership with Binance. The collection, set to debut on the Binance NFT Marketplace this week, will showcase highlights from Ronaldo’s illustrious football career.

Ronaldo expressed his excitement for the new collection in a blog post, inviting fans to join him on his football journey. The exact number of NFTs in the collection will be revealed upon its launch, with pricing details yet to be disclosed. Binance has revealed that all “Normal NFTs” will be priced the same, while the final Super Rare NFT will have a different price point.

Previous NFT collections featuring Ronaldo have offered unique experiences for holders, including the opportunity to play football with the star as part of Binance promotions. However, Ronaldo’s involvement with Binance has not been without controversy, as he is currently facing a class action lawsuit in a United States district court in Florida related to his previous NFT sales with the platform.

The plaintiffs in the lawsuit allege that Ronaldo’s endorsement led to significant investment losses, seeking damages exceeding $1 billion. Ronaldo’s previous “CR7” NFT collection with Binance saw a dramatic decrease in value within a year, prompting concerns about the promotion of digital assets as securities without proper disclosure.

Efforts to serve legal papers to Ronaldo have been met with challenges, leading the plaintiffs to propose alternative methods such as serving him via email, social media, and a dedicated website. The lawsuit highlights Ronaldo’s massive social media following as a contributing factor to the success of his NFT sales and Binance’s increased popularity.

As Ronaldo continues to navigate the legal challenges surrounding his NFT ventures, fans eagerly anticipate the release of his latest collection on the Binance NFT Marketplace.

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