Crypto Exchange Binance Partners with Cristiano Ronaldo for NFT Deal

By Ben Morris in Sports
| June 28, 2022 5:19 am PDT

  • Cristiano Ronaldo has signed an exclusive deal with cryptocurrency firm Binance.
  • The soccer superstar is set to work alongside Binance to create a range of NFTs.
  • Binance is the world’s largest crypto exchange in terms of daily trading volume.

Across his glittering career, Cristiano Ronaldo has played for some of the biggest clubs in European soccer. The five-time Ballon d’Or winner has claimed countless titles with Manchester United, Real Madrid, and Juventus – cementing his status as one of the greatest players of all time.

But as the 37-year-old approaches the end of his career, he is preparing for life after soccer.

Ronaldo recently signed an exclusive deal with Binance, which will see him partner with the crypto exchange to create a range of non-fungible tokens (NFTs). The first installment is due later this year, with further collections expected in the future.

Boasting more than 460 million followers,
the Portuguese megastar is the most-followed person on Instagram. Binance’s goal is to reach Ronaldo’s fans and introduce them to Web3 via fan NFTs.

So, what does the multi-year deal mean for both parties? Is this the start of something special? Or could the partnership end in tears? Let’s take a closer look at all the key details.

What is Binance?

For those unfamiliar with the best cryptocurrency betting sites or crypto in general, Binance is a blockchain ecosystem and crypto provider. Essentially, the platform enables users to trade altcoins.

The company was founded in 2017 by Changpeng Zhao, who is currently the CEO. Commonly known as “CZ”, the Chinese-Canadian business executive released the following statement after news of the Ronaldo deal broke.

“Cristiano Ronaldo is one of the world’s best footballers and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work. We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

As it stands, Binance is the world’s busiest exchange when it comes to the daily trading volume of cryptocurrencies. The company is only expected to grow with Ronaldo on board.

How Much Will Ronaldo Earn?

At this stage, it is unclear how much money Ronaldo will make from the NFT deal. However, it isn’t unreasonable to assume that he will pocket a hefty sum.

The forward reportedly earns £510,000 a week at Man Utd. He is also believed to earn £14.7 million per year from Nike, having signed a ten-year contract with the American sportswear brand in 2016.

“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.”

Ronaldo is not the first high-profile sportsperson to take on blockchain and NFT-focused partnerships. In fact, he has joined Ballon d’Or rival Lionel Messi in embracing this kind of deal.

But what does the future hold for Ronaldo and Binance?

Are There Any Concerns Surrounding the Deal?

Although the idea of creating NFTs may seem like a fun and light-hearted project, there are concerns regarding the legitimacy of Binance.

Last year, Binance was investigated by both the United States Department of Justice and Internal Revenue Service on allegations of tax offenses and money laundering.

It has also been reported that Binance shared client data with the Russian government. However, it is worth noting that Binance fiercely denies the allegations.

Whatever you may think about Binance and Ronaldo, there is no hiding the fact that the two parties have combined to strike a groundbreaking deal in the Web3 world.

Time will tell whether the partnership will be a success. If the deal turns out to be anywhere near as successful as Ronaldo’s soccer career, I’m sure both parties will be very happy indeed!

On the topic of Ronaldo’s soccer career, follow the link below to relive his greatest goals.

Ranking Cristiano Ronaldo’s Top 5 Greatest Goals

Across 1,100+ professional career appearances, Cristiano Ronaldo has racked up more than 800 senior career goals for club and country. And no, that is not a typo. The prolific forward has been scoring goals at an astonishing rate for the best part of two...

Read More

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