Football Superstar's NFT Commitment
Cristiano Ronaldo fulfills his promises to nonfungible token (NFT) holders as he engages in a training event sponsored by Binance, despite facing legal challenges in the United States.
Ronaldo's Playful Interaction
In a heartwarming gesture, Cristiano Ronaldo joins fans and NFT holders on January 25 for a game of football, as captured in a video released by crypto exchange Binance. The event also featured fellow Binance endorser Khaby Lame and Croatian footballer Maria Marković, providing training tips and sharing some fun moments with the NFT community.
NFT Partnership and Exclusive Experiences
Ronaldo's journey into the NFT space began in 2022 when he signed a multiyear partnership with Binance. This collaboration resulted in the creation of a series of exclusive NFT collections with the football icon, granting NFT holders unique engagement opportunities with the sports legend. Ronaldo expressed his commitment to providing unprecedented experiences and access to his fans through NFTs.
Ronaldo's NFT Advocacy
Throughout 2023, Cristiano Ronaldo continued to promote NFTs in partnership with Binance, even going to great lengths like undergoing a lie detector test during the release of his second NFT collection. The lie detector confirmed his genuine ownership of NFTs, emphasizing his dedication to the NFT space.
Legal Troubles and Unregistered Securities
However, Ronaldo's involvement with Binance's NFT arm led to allegations of promoting investments in unregistered securities on the exchange. On November 27, 2023, users filed a class-action lawsuit against Ronaldo in a U.S. district court in Florida, accusing him of actively participating in the sale of unregistered securities in coordination with Binance.
Challenges in Serving Ronaldo
Serving Ronaldo with the lawsuit presented difficulties for the plaintiffs, as the football star's address in Saudi Arabia remains private. In response, on January 16, the plaintiffs filed a motion to use alternative methods, such as sending notices through email, X (formerly Twitter), and website publication, while arguing that these approaches comply with international agreements.