Cristiano Ronaldo, the Portuguese footballer, recently announced the launch of his 4th collection of non-fungible tokens (NFT) in partnership with Binance, despite an ongoing lawsuit against him and the company.
The new NFT collection
The new NFT collection, which will be launched on Binance’s NFT marketplace on May 29, celebrates the footballer’s history and features highlights from his career. According to a Binance blog post, Cristiano Ronaldo commented, “My soccer career has taken me around the world and I’ve been honored to play for some of the most prestigious clubs. Now it’s your turn to join me on this journey.” The number of NFTs included in the new collection has not been announced, but it is expected that the price will be the same for each normal NFT, while the price of the final Super Rare NFT will be different.
The ongoing trial
Cristiano Ronaldo has been sued for his involvement in the sale of NFT collections with Binance. The plaintiffs in the lawsuit claimed that Ronaldo had promoted, aided and/or participated in the offer and sale of unregistered securities in coordination with Binance, and that he must have known that Binance was involved in these activities. The trial was launched in November 2023 and is still ongoing.
Implications for the future
The implications for the future of Binance are significant. Binance’s founder, Changpeng “CZ” Zhao, was convicted of facilitating fraud in the USA and sentenced to serve four months’ detention for his role in a money laundering scheme. This conviction has led to a loss of confidence in the company and could affect the company‘s future.
