Binance teams up with Cristiano Ronaldo for NFT partnership

Crypto exchange Binance plans to launch a global marketing campaign to promote Web3 and provide football fans with a compelling entry point into the NFT market.
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Binance, the world’s largest crypto exchange by trading volume, on Thursday announced a multi-year NFT (non-fungible token) partnership with football legend Cristiano Ronaldo.

With this partnership, the firm plans to launch a global marketing campaign to promote Web3 and provide football fans with a compelling entry point into the NFT market.

The football legend took to Twitter to announce the partnership, and the video garnered millions of views in a few hours, with several individuals rooting for the partnership.

Changpeng Zhao, Founder and CEO of Binance, said, “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.”

Ronaldo said his relationship with 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 fans are going to enjoy the collection as much as I do."

Meanwhile, earlier this week crypto exchanges, including FTX, withdrew sports deals due to the current economic downturn, and global crypto firms, including Coinbase, Gemini, Robinhood, BlockFi, BitMex, and Crypto.com, announced that they were downsizing their workforce.

In the last two years, crypto firms have invested in several sports deals. Billions of dollars were spent on marketing strategies. Crypto.com has been one of the biggest investors in sports deals. Besides partnering with football players, crypto exchanges such as Bybit, FTX, and Tezos have also collaborated with Formula1 teams.