- Fans train with the soccer legend in Lisbon through CR7 NFTs.
- Ronaldo partnered with the Binance exchange.
- The event exemplifies increasing real-world applications of NFTs.
Sports icon Cristiano Ronaldo’s partnership with the Binance exchange has brought his fans a real treat. Recently, Ronaldo and Binance offered an opportunity for a select group of Non-Fungible Token (NFT) holders to play their favorite sport with the legend.
Those holding the golden ticket CR7 NFT recently trained with the soccer legend in Lisbon, showcasing how NFTs are gaining increased utility in real life.
Binance and Ronaldo Bring NFTs and Sports Together
On a bright November day in Lisbon, Cristiano Ronaldo, in collaboration with Binance, orchestrated an exclusive training session for NFT holders. The event, also featuring TikTok influencer Khaby Lame and Binance’s Ana Markovic, was documented in a video released on Thursday, January 25.
The session was not just a meet and greet but a fully-fledged training day, offering participants the chance to learn soccer techniques and engage in challenging activities under the guidance of one of the sport’s greatest players.
This event was part of Binance’s CR7 ForeverZone NFT collection, with the highlight being the Golden Ticket from ‘The GOAT NFT’ series. This ticket granted its holder and four other lucky individuals a chance to train with Ronaldo himself.
Cristiano Ronaldo expressed his enthusiasm for the initiative, emphasizing the unique connection that NFTs help forge between him and his fans. He views these digital assets as a novel way to reward fans for unwavering support.
How NFTs Impact Sports
The collaboration between Cristiano Ronaldo and Binance, culminating in the Lisbon training session, is part of a larger trend in NFT use. NFTs, originally popularized as a means to buy and sell digital art, are now paving new pathways in the sports industry.
The collectible market is witnessing a paradigm shift from physical cards and memorabilia to digital assets, which promise authenticity, rarity, and an immutable record of ownership.
Still, the move is not without controversy. Most recently, Binance and Ronaldo have found themselves in a lawsuit in the US. The plaintiffs alleged that the NFTs Ronaldo promoted were unregistered securities that put investors at risk.
On the Flipside
- While NFTs offer a new way to engage with fans, there are significant barriers for users. Many non-tech-savvy fans will have trouble accessing these opportunities.
- Regulatory challenges are also a concern for NFTs, as seen in the latest lawsuit against Ronaldo.
Why This Matters
Cristiano Ronaldo teaming up with Binance for an NFT shows how technology is changing the game in sports and entertainment. However, significant challenges remain before the technology can become mainstream.
Read more about the lawsuit against Binance and Ronaldo:
Here’s Why Ronaldo’s $1B Binance Lawsuit Is Getting Intense
Read more about the regulatory issues in crypto:
70% of Crypto Communications Break Compliance Rules: FINRA