By Shelly Melancon (Switzerland)
According to the long-term agreement, the Portuguese soccer player and Binance would gradually make NFT assortments available for purchase on the company’s website. The digital currency exchange stated, noting that the first assortment would be provided soon.
Rise of NFTs as a Digital Asset
An NFT is a digital asset that resides on a blockchain, a ledger of transactions kept on centralized computers. The blockchain serves as a public record, allowing anybody to certify the legitimacy of the NFT and find out who owns it.
NFTs had a wild journey in 2021 as they first attracted support from cryptocurrency advocates and later institutional investors. Financial supporter sentiment against risky resources has driven a drop in digital currencies, like bitcoin, and has also spilled over into NFTs, which exploded in popularity last year.
Crypto Companies and Sports Partnership
Sports organizations have been a source of support for cryptocurrency businesses trying to become mainstream. Tom Brady received a stake from cryptocurrency trade FTX Trading Ltd last year, and Crypto.com announced a $700 million deal to rename the Los Angeles Staples Center the Crypto.com Arena.
When it comes to sponsorships, viewers and financial backers are becoming more aware of digital currencies, while the prevalence of cryptocurrency in the media and in everyday life is also growing.
Also read:Fan commitment tokens address one of the most intriguing improvements to come from the nexus of sports and innovation. A “totally fungible computerized” utility token called a “fan commitment token” permits sports fans to get to and have impact over certain choices that are made by their favorite game club.
Binance CEO on Ronaldo’s Partnership
“One of the most outstanding football players on the planet, Cristiano Ronaldo has risen above the game to turn into an image for the vast majority of different organizations. Through his genuineness, ability, and work for extraordinary causes, he has obtained one of the most ardent fan continuing on the planet, as per Binance
Founder and CEO “CZ.” ” (Changpeng Zhao). We are excited to offer his supporters selective chances to connect with Ronaldo and own a piece of incredible game history”.
“I need to be a part of this NFT stage because my relationship with the fans is very important to me,” remarked Ronaldo. “I understand that the supporters will enjoy the selection no matter how much I do.” Only Binance NFT users will have access to the Cristiano Ronaldo NFT selections.
Binance is the biggest cryptocurrency exchange in the world. It has some of the most popular cryptocurrencies on their platform. Binance offers a crypto wallet in which brokers can store their electronic assets. Clients can likewise acquire interest or manage their digital assets.
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