Cristiano Ronaldo becomes Binance partner, launches NFT

In the midst of Crypto Winter, the bridging together of Blockchain technology and the legacy digital ecosystem continues unabated with Binance partnering with none other than Cristiano Ronaldo to promote NFTs.

NFT’s soccer stars: Cristiano Ronaldo leads the pack

In terms of the deal itself, the Portuguese football star will be working with Binance through a multi-year agreement to create a number of NFT collections for sale via the exchange’s platform with the first collection being set to debut later this year.

Sports sponsorships and partnerships have become a more prevalent tool when it comes to large crypto-exchanges and ventures seeking to broaden their brand awareness. The previous year has seen Crypto.com signing a $700 million deal to rebrand the Los Angeles Staples Centre into the Crypto.com Arena with FTX Trading following through with selling a stake to Tampa Bay Buccaneers quarterback Tom Brady.

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This being said, it does come at a dire time for the market as a whole, with the crash of Luna and a number of other events such as the freezing of the Celcius Network leading to a massive market contraction that has seen Bitcoin fall from over $60,000 to dipping ever so slightly under $20,000. This would constitute a 2/3d fall from its highest selling point with several projects falling afoul and investor funding tightening significantly.

Source: AIBC