Crypto Exchange Binance Partners with Cristiano Ronaldo for NFT Deal
- 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.
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.
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.
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.
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.