Cristiano Ronaldo signs Binance in an effort to push the NFTs
Portuguese football star and Binance will create a series of NFT collections for sale on the company’s platform
Binance, the world’s largest cryptocurrency with trading volumes, said on Thursday he had signed a partnership with Cristiano Ronaldo to develop mold-free tokens (NFTs).
As part of a multi-year deal, the Portuguese football star and Binance will create a series of NFT collections sold on the company’s platform, says the cryptocurrency exchange, adding that the first collection will be released later this year.
NFT is a digital asset that exists in the blockchain, a record of activities stored on computer networks, and the blockchain acts as a public record, allowing anyone to verify the authenticity of the NFT and verify its ownership.
Investor’s miserable sentiment for risky assets has led to a decline in cryptocurrency currencies, including bitcoin, and has spilled over to NFT, which was particularly prominent last year.
Crypto companies relied on sports partnerships in an effort to move forward. Last year, Crypto signed a $ 700 million agreement to rename the Staples Center in Los Angeles as Crypto.com Arena, while the crypto exchange FTX Trading Ltd. sells part to National Football League quarterback Tom Brady.