NFT Price Rises, As Cristiano Ronaldo Set To Sell Cryptoasset

Cryptocurrency exchange, Binance, and Manchester United forward, Cristiano Ronaldo, have signed a multi-year partnership deal to increase the adoption of Nonfungible Token (NFT).

Images of the five-time Ballon d’Or winner will be created into NFT collections and sold on Binance NFT platform before the year ends to his fan base. Currently, Ronaldo has over 300 million followers across social media.

Ronaldo has been a beneficiary of the cryptocurrency in the past, receiving fan tokens while playing for Juventus in March 2021, but the Binance partnership is his first direct involvement in the cryptocurrency market.

Following the report of Ronaldo joining the digital currency community on Thursday, NFT price in the crypto market rose sharp to $0.01658 between the hours of Friday and previous day, according to data obtained from Coinmarketcap.

However, NFT price is now down by -5.06%, trading at $0.01547 as at the time of filing this report, but still above the closing price of $0.01508 on Thursday, with its market capitalisation currently at $565,849.

Addressing the deal between Binance and Ronaldo, the founder, Changpeng Zhao, said the player has built influence beyond the footballing world, extending into several industries, hence, the significance of the deal.

Zhao said the Real Madrid legend has “transcended sport to become an icon in multiple industries.” and “has amassed one of the world’s most dedicated fan bases through his authenticity, talent and charity work.”

On his part, Ronaldo said, “My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of.”

While one NFT is currently sold for at least $0.01547, the collections of the Champions League All-Time goalscorer is expected to sell above this level, considering fans will try to outbid themselves to take possession of Ronaldo’s NFT pieces.