Cristiano Ronaldo has become the latest big name in football to get involved with cryptocurrency and Non-fungible tokens (NFTs). On Friday it was announced by both the player and company Binance that the two would be partnering for a ‘multi-year agreement’, although it’s not yet clear how long that is.
NFTs have been the subject of much controversy over the course of the last year, with numerous footballers partnering with or producing their own. One such case was Michael Owen, who was contacted by the Advertising Standards Authority about misleading tweets which claimed his NFTs could not lose value, as per the BBC.
Proud to be partnering with @binance
Together we’ll give you the opportunity to own an iconic piece of sports history.
I’m excited to take this journey with all of you. Let’s change the NFT game with #Binance. pic.twitter.com/SNSCMHggct
— Cristiano Ronaldo (@Cristiano) June 23, 2022
Binance, the largest trader of cryptocurrency, will produce a series of NFTs with Ronaldo later in the year, according to Reuters.
It’s not clear how much the agreement is worth, although many footballers have come under fire for their promotion of NFTs, most notably John Terry. His own line dropped in value by 90% in March, as reported in British media. This follows a general trend in cryptocurrencies losing value in 2022 and the move must have been fairly lucrative for Ronaldo to risk associating his brand with a potentially declining business.
