Cristiano Ronaldo strikes with NFT owners as court challenges arise
Soccer superstar Cristiano Ronaldo offers some hope to holders of his non-perishable tokens (NFTs), despite some efforts to take the sports legend to court in the United States.
On January 25, crypto exchange Binance released a video showing Ronaldo playing football with several fans and his NFT owners. Along with Binance endorser Kabi Lame and Croatian footballer Maria Markovic, Ronaldo trained with NFT owners and gave them some tips to improve their game.
In the year In 2022, the soccer star signed a multi-year NFT partnership and released its first NFT collection with Binance. The deal includes creating a series of NFT collections featuring Ronaldo and offering NFT holders exclusive engagement opportunities with the sports icon.
At the time, Ronaldo said in a press release sent to Cointelegraph that the relationship with his fans is very important and that through NFTs “the idea of bringing experiences that have never been seen before” is what he wants to be a part of.
In the year In 2023, the football player continued to promote NFTs with Binance, even partnering with the exchange to make a second set of tokens such as passing a fake detection test. At the time, Ronaldo admitted that he was the owner of the NFTs, and the lie detector confirmed that the athlete was telling the truth.
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While some cheered Ronaldo's involvement with Web3, others believed the soccer star's involvement with Binance's NFT arm promoted investments in unlisted securities on the exchange. In the year On November 27, 2023, users filed a class-action lawsuit against Ronaldo in the United States District Court in Florida, alleging that he “actively participated in the coordination of unregistered securities transactions with Binance.”
Despite the allegations, Binance users have had difficulty accessing and serving Ronaldo as his address in Saudi Arabia is confidential. On January 16, the plaintiffs filed a motion to employ different methods. This includes sending the announcement via email, X (formerly Twitter) and website print, which they argue complies with international conventions.
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