Key learning points
- Cristiano Ronaldo announced a multi-year NFT partnership with industry giant Binance.
- The Portuguese football legend said his collection would be an opportunity for fans to “own an iconic piece of sports history”.
- Despite being built on one of the leading crypto ecosystems, Binance NFTs never really took off.
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Cristiano Ronaldo and Binance are teaming up to give football fans the chance to own “an iconic piece of sports history.”
“Iconic piece of sports history”
Cristiano Ronaldo starts with NFTs.
The soccer superstar announced today its exclusive partnership with Binance. Ronaldo stated that the multi-year deal would be an opportunity for fans to “own an iconic piece of sports history” and be part of his Web3 community.
“Today we are going to change the NFT game and take football to the next level,” Ronaldo said in a video.
Binance is one of crypto’s largest ecosystems; its main components are Binance’s centralized exchange and the Binance Smart Chain (BSC). BSC is the second most used blockchain (behind Ethereum), with 407 different protocols built on it and $5.92 billion in value locked down.
Despite these impressive stats, Binance has: struggled to foster a thriving native NFT ecosystem. PancakeSwap, Binance’s decentralized exchange and leading protocol, is 20th in terms of NFT marketplaces, with just $79 million in cumulative trading volume (Ethereum marketplaces such as OpenSea and LooksRare have $31.24 billion and $23.23 billion, respectively).
The partnership with Ronaldo can therefore be seen as an attempt by Binance to add value to BSC and increase the blockchain’s NFT market share. Binance CEO Changpeng Zhao “CZ” may have hinted at this as such retweet of the official announcement: “Now we begin.”
Other notable NFT collaborations were also unveiled this week, including the recent . by artist and music producer Pharrell Williams appointment as Chief Brand Officer for the Doodles collection.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.