Cristiano Ronaldo signs NFT deal with Krypto exchange Binance

Cristiano Ronaldo, one of the largest football stars, has concluded a sponsorship contract with the Krypto exchange Binance and is therefore the youngest celebrity who, despite the crisis of the sector, receives a lucrative partnership with a company for digital assets.

The legendary Portuguese football player, whose career Manchester United, Juventus and Real Madrid included, will work with Binance to create a collection of non -fungable tokens (NFTS) that are sold exclusively via the stock exchange.

Ronaldo's crypto deal is concluded because Bitcoin's price has fallen by more than 70 percent since its high last autumn and the profits of five years have been rejected for investors. The sale of some of the largest dealers and lenders in the industry for digital assets triggered a crisis and triggered warnings of a "clay moment" for the sector.

"My relationship with the fans is very important to me," said Ronaldo. "The idea of ​​offering unprecedented experiences and access options via this NFT platform was something that I wanted to share."

During the latest crypto boom,

digital asset companies have become some of the largest sponsors of sports stars and franchise companies, with multimillion dollar deals, including the 700 million duty renaming the main tariff from Los Angeles through Crypto.com and a number of TV commercials for celebrities at Super Bowl.

The cryptopher prices continued to fall from their highs last November, although millions were spent on attracting new investors. Stock -up speculators who bought Bitcoin after the Super Bowl in February would accept a loss of 50 percent.

The drop in price and the slowdown of trade have affected the income of the crypta borns. The big stock exchanges Coinbase, Gemini and Crypto.com have announced layoffs in recent weeks. However, Binance said that it will stay healthy and progresses with a frenzy and more lively deals.

"Cristiano Ronaldo is one of the world's best footballers and has overcome sport and has become an icon in several industries," said Changpeng Zhao, CEO of Binance.

Ronaldo's great rival, Lionel Messi from Paris Saint-Germain and Argentina, became the global brand ambassador of the crypto fan token company Socios.

top -class athletes who promote digital assets have caused a counter -reaction from the financial supervisory authorities in several countries. Binance was involved in a collision between the Spanish National Securities Market Commission and the football star Andrés Iniesta for social media contributions. The stock exchange said that Iniesta had not disclosed due to a "misunderstanding" that he was paid for the contributions to promoting the stock exchange.

The British Financial Conduct Authority warned consumers in May about the risks of investments in crypto-assets, just a few days after retired footballer Michael Owen NFTS, of which he claimed that they “could not lose their original value”.

"We recently seen some social media posts on crypto-assets and not fungal tokens," said the FCA and warned that there was no consumer protection for these assets, and added: "If you buy crypto-assets, you should be prepared to lose all of the money".

At the beginning of this month, Zhao criticized other crypto companies that had spent a lot of money for sports advertising before the prices for digital assets decline. "A few months ago it was not easy to say no to super-ben advertising, stadium name rights and large sponsorship contracts, but we did it," he said wrote on Twitter on June 15th. "Today we hire for 2,000 vacancies for #binance."