- Binance announces NFT partnership with Cristiano Ronaldo
- The partnership will create a series of NFT collections for sale
- The collaboration aims to offer an entry point to the world of NFTs
On 21st June 2022, Binance announced an exclusive, multi-year NFT (non-fungible tokens) partnership with the renowned footballer, Cristiano Ronaldo.
Binance will be launching a global campaign aiming to give fans of the footballer, an introduction to Web3. The campaign will offer an entry point into the world of NFTs.
Binance is the world’s biggest cryptocurrency exchange in terms of daily trading volumes and was founded in 2017.
The Binance partnership will create a series of NFT collections for sale (exclusively on the Binance NFT platform).
What to Expect from the Collection?
The first collection is expected to be released later this year. The collection will feature designs created in collaboration with the football star, Ronaldo.
Ronaldo recently stated that his fans are very important to him, and the idea of bringing valuable experiences and access through the NFT platform is something that he looks forward to.
He further stated that his fans will enjoy the collection as much as he had enjoyed working on it.
What are NFTs?
NFTs are tokens that store valuable information and are generally built using the same kind of programming as Bitcoin or Ethereum (cryptocurrency)
The difference lies in the fact that cryptocurrencies are “fungible,” meaning that they can be exchanged or traded while NFTs can’t be exchanged or traded at equivalency.
Are NFTs Safe?
They hold value set by the market and demand, so they can be bought and sold like other physical types of art out there.
NFTs’ unique data makes verification and validation easy. They exist on a blockchain, so a record of transactions is kept on networked computers.
The blockchain acts as a public ledger, allowing anyone to check the NFT’s authenticity and ownership.
The Future of NFTS
IT is expected that the global NFT market size will grow by $147.24 billion from 2021 to 2026. The compounded annual growth rate is expected to be 35.27%.