Few footballers’ careers and subsequent celebrity have been as marked for success as Cristiano Ronaldo’s, holding the crown of the most followed person on Instagram with 651 million followers. It’s fair to say the Portuguese-born, five-time Champions League-winning footballer has entered A-rank celebrity status. It is perhaps then no surprise that his celebrity status signals great opportunity in the crypto world, making him a prime candidate to enter the NFT market with gusto!
Enter Binance
Binance, a leading crypto exchange, saw Ronaldo and they saw dollar signs in the potential to partner with the world’s most followed man and create a range of NFTs to appeal to his colossal following and onboard to their Crypto Exchange. However, they missed the NFT hype by the time they launched in late 2022, with the bottom largely falling out of the crypto market between 2021 and early 2022.
Ronaldo signed a partnership deal with Binance, which continues to this day with the latest drop in 2024, despite a $1 billion lawsuit brought against him in late 2023 for promoting “unregistered securities.” This stance may seem extreme today, but during the U.S. regulatory push known as Chokepoint 2.0, aimed at tightening crypto oversight, Binance faced scrutiny for not registering their crypto assets with the SEC.
As a civil lawsuit, there is little that can be done in the way of a pardon by the pro-crypto administration, but it shows the legacy of Chokepoint 2.0 and how it emboldened civil suits to eye-watering heights. Financial expert in soccer Kieran Maguire speculates Ronaldo’s deal with Binance to be north of $25 million annually, although this is speculative and it is unclear what form these payments take – EssentiallySports.
NFT’s or collectors card ?
NFTs that draw inspiration from collectors’ cards demonstrate the power of nostalgia and the value we place on owning something that represents iconic moments. The NFT collections announced by Ronaldo and Binance have given fans a new way to engage with Ronaldo’s career and own a piece of his football history, capturing historic moments and memories that collectors may find inspiring. Binance is currently on its fifth Ronaldo collection following a set of collections that celebrate Ronaldo’s career:
- CR7 Collection (November 2022): First NFT drop with seven animated statues of Ronaldo’s career moments, offering signed merchandise and giveaways.
- Forever CR7: The GOAT (July 2023): Second collection celebrating Ronaldo’s goal-scoring records, with premium statues and mystery boxes.
- CR7 ForeverZone (October 2023): Third collection with 50,000 free mystery boxes containing CR7-inspired NFTs and prizes like signed footballs.
- Forever Worldwide: The Road to Saudi Arabia (May 2024): Fourth collection with NFTs tied to key locations in Ronaldo’s career, priced at 35 USDT.
- ForeverSkills (December 2024): Fifth collection showcasing Ronaldo’s football skills, with rewards like a masterclass and exclusive content.
Not just Ronaldo Also Messi
Meanwhile, Lionel Messi’s $20 million Socios.com deal, powered by Chiliz, spiked Chiliz ($CHZ) 16.52% and the PSG fan token 160% to $50 at launch in 2022, now at $2.42, highlighting celebrity-driven crypto volatility—read more in this “Love of the Game” crypto write-up.
Conclusion
Ronaldo’s NFT venture hasn’t matched his football triumphs. Yet, these digital collectables offer fans a fresh way to connect with his legacy. In a pro-crypto world, their value might grow long-term, much like vintage comic books and baseball cards. Still, a memecoin, riding viral buzz like $Trump coin, might’ve leveraged his fame more effectively and created more of a buzz and long-term store of value than the NFT drop. As crypto evolves, Ronaldo and Binance have room to adapt their partnership, and the NFT market is more than likely to bounce back with the Metaverse promising to make these assets more tangible.