Binance, the world’s biggest cryptocurrency exchange by trading volumes said on Thursday that has been partnered with Portuguese soccer star Cristiano Ronaldo for the promotion of Non-fungible tokens (NFTs).
Binance agree on a multi-year partnership with a soccer star to create a series of NFTs collections for the sale on Binance platform and also said that the first NFTs collection would be released later this year.
An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers, and the blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity and check who owns it.
Souring investor sentiment toward risky assets has led to a plunge in cryptocurrencies, including bitcoin, and has also spilled over into NFTs, which exploded in popularity last year.
Crypto companies have been relying on sports partnerships in a bid to go mainstream. Last year, Crypto.com signed a $700 million deal to rename the Staples Center in Los Angeles as the Crypto.com Arena, while crypto exchange FTX Trading Ltd sold a stake to National Football League quarterback Tom Brady.
FTC: GadgetBond.com is supported by its readers. When you purchase through links on our site, we may receive compensation at no extra cost to you, this will help us to keep our website running. Read our ethics HERE. Note: The pricing and availability are accurate as of the time of publication but are subject to change in the future.