Nfts
Cristiano Ronaldo set to launch another NFT collection on Binance despite billion-dollar lawsuit
May 28, 2024 5:29 a.m. | 2 minutes of reading
Despite being embroiled in a legal dispute, the soccer superstar Cristiano Ronaldo is about to launch its fourth collection of non-fungible tokens on Binance (CRYPTO: BNB) this week.
What happened: The new collection will launch on May 29 on the Binance NFT marketplace, according to a blog post. The collection will pay homage to Ronaldo’s career, capturing epic moments from his illustrious journey.
The exact number of NFTs has not yet been disclosed as of this writing. However, it was mentioned that fixed prices will be maintained for each “normal NFT”, while a rare NFT will have a different pricing structure.
Ronaldo, the most followed athlete on X, promoted the event via a message. He wrote: “Are you ready to relive our journey together? My 4th NFT collection on Binance will be launched soon!”
Why is this important: The legendary footballer’s partnership with Binance dates back to November 2022, when Ronaldo’s first NFTs were launched. However, this collaboration caused legal problems.
Ronaldo was named in a billion-dollar class-action lawsuit filed last year in a U.S. district court in Florida. accusing him of having participated in a “illegal” advertising campaign for Binance.
The lawsuit says Ronaldo significantly encouraged investments in unregistered securities, supported by his large social media following, thereby aiding and abetting Binance’s alleged fraud.
Binance was locked in a legal battle with the SEC, the latter accusing the former of running an unregistered securities company. THE
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