Sports Business – Binance Cristiano Ronaldo Partnership: World’s most followed footballer Cristiano Ronaldo will now promote non-fungible tokens (NFTs). Binance, the world’s biggest cryptocurrency exchange by trading volumes declared that it has signed a partnership with Ronaldo for the promotion of NFT’s: Follow Football NEWS LIVE and Sports Business News updates with InsideSport.IN
Sports Business: World’s biggest cryptocurrency exchange, Binance signs partnership with Cristiano Ronaldo: CHECK OUT
As part of the multi-year agreement, the Portuguese soccer star and Binance will create a series of NFT collections for sale on the company’s platform, the cryptocurrency exchange said, adding that the first collection would be released later this year.
An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers, and the blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity and check who owns it.
Souring investor sentiment toward risky assets has led to a plunge in cryptocurrencies, including bitcoin, and has also spilled over into NFTs, which exploded in popularity last year.
Crypto companies have been relying on sports partnerships in a bid to go mainstream. Last year, Crypto.com signed a $700 million deal to rename the Staples Center in Los Angeles as the Crypto.com Arena, while crypto exchange FTX Trading Ltd sold a stake to National Football League quarterback Tom Brady.
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