Football legend Cristiano Ronaldo recently engaged in a unique experience with fans, blending the worlds of sports and digital assets through a Binance-sponsored football training session.
This event highlighted Ronaldo’s commitment to his NFT collection holders, offering them an unparalleled opportunity to interact directly with the sports icon, even as legal challenges against him are mounting in the United States.
Ronaldo’s NFT Adventure and Legal Hurdles
In an effort to deepen the connection between Ronaldo and his fans, crypto giant Binance facilitated an event where NFT holders got the chance to play football alongside Ronaldo.
The event, which also featured social media star Khaby Lame and Croatian footballer Maria Marković, was not just about sharing the field; it was an educational session where Ronaldo imparted valuable football tips to the participants.
Ronaldo’s NFT Journey and Fan Engagement
Ronaldo’s journey into the NFT space began in 2022 with a landmark multiyear partnership with Binance. This collaboration was designed to launch several NFT collections featuring Ronaldo, aiming to provide fans with exclusive experiences and interactions with the football star. Ronaldo expressed his enthusiasm for this innovative fan engagement model, stating in a press release to Cointelegraph:
“My relationship with my fans is very important to me, and the idea of bringing unprecedented experiences and access through NFTs is something I wanted to be part of.”
2023 saw Ronaldo furthering his involvement in the NFT space, promoting his second collection with Binance through engaging marketing stunts, including a lie detector test that verified Ronaldo’s own investment in NFTs.
Legal Controversies Surrounding Ronaldo’s NFT Endeavors
However, this foray into digital collectibles has not been without controversy.
Critics argue that Ronaldo’s promotion of Binance’s NFT products might constitute the marketing of unregistered securities.
This debate culminated in a class-action lawsuit filed against Ronaldo on November 27, 2023, in a Florida district court. The lawsuit accuses Ronaldo of “actively participated in the offer and sale of unregistered securities in coordination with Binance.”
Serving Ronaldo with the lawsuit has proven challenging due to the privacy surrounding his Saudi Arabian address.
Plaintiffs have sought alternative methods for serving the legal notice, including email, X (formerly Twitter), and website publication, arguing that these methods are in line with international legal standards.
