Following an exclusive agreement with Binance, soccer legend Cristiano Ronaldo is entering the NFT space.
In a press release issued some days ago, the top crypto exchange announced the NFT relationship with the football player. It said that the multi-year cooperation aims to use digital collectibles to link the football player with his followers. In a video, Ronaldo stated that spectators would have the opportunity to buy "an iconic piece of sports history."
The Manchester United player and Binance will jointly launch a number of NFT collections during the life of the partnership, and these collections will only be offered for purchase on the Binance NFT platform. Later this year, the first batch of collectibles will be released.
“I value my relationships with the fans much, so I was excited to be a part of the NFT platform's mission to provide access and experiences that have never been possible before. As much as I love the collection, I know the fans will too”, stated Ronaldo.
The world’s largest crypto exchange by trading volume earlier had difficulty establishing its control over the booming NFT market despite having one of the largest ecosystems in the crypto realm.
In particular, its controlled exchange presently outranks rivals like Coinbase, FTX, and Kraken as the largest crypto trading platform. With over 400 distinct protocols built on it, the Binance Smart Chain is also the second-most used blockchain after Ethereum.
However, with only $79 million in total trading volume, PancakeSwap, Binance's decentralized exchange, is now ranked twentieth in terms of NFT activity. Markets like OpenSea and LooksRare had trading volumes of $31.2 billion and $23.2 billion, respectively.
The company's intention to step up its efforts in the NFT business may be interpreted by the relationship with Ronaldo.