Cristiano Ronaldo and Binance, the largest cryptocurrency exchange in the world by trading volume, have partnered to promote non-fungible tokens (NFTs).
The Portuguese soccer player and Binance will collaborate on a series of NFT collections for sale on the company’s platform as part of the multi-year arrangement, the cryptocurrency exchange said, noting that the first collection would be made available later this year.
The blockchain acts as a public ledger, making it possible for anybody to confirm an NFT’s legitimacy and find out who owns it. A blockchain is a record of transactions preserved on networked computers.
Souring investor sentiment toward risky assets has led to a plunge in cryptocurrencies, including bitcoin, and has also spilled over into NFTs, which exploded in popularity last year.
Crypto companies have been relying on sports partnerships in a bid to go mainstream. Last year, Crypto.com signed a $700 million deal to rename the Staples Center in Los Angeles as…
