Cristiano Ronaldo Set To Launch Yet Another NFT Collection On Binance Despite $1B Lawsuit

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Despite being embroiled in a legal tangle, soccer superstar Cristiano Ronaldo is set to go ahead with the launch of his fourth non-fungible token collection on Binance BNB/USD this week. 

What Happened: The new collection will be launched on May 29 on the Binance NFT marketplace, according to a blog post. The collection will pay tribute to Ronaldo’s career, capturing epic moments from his illustrious journey.

The exact number of NFTs has yet to be disclosed as of this writing. However, it was mentioned that fixed pricing will be maintained for each "Normal NFT,"  while one rare NFT will have a different pricing structure.

Ronaldo, the most-followed sportsperson on X, promoted the event through a post. He wrote, " Are you ready to relive our journey together? My 4th NFT Collection on Binance launching soon!"

Why It Matters: The legendary footballer's partnership with Binance dates back to November 2022, when the first Ronaldo NFTs were launched. However, the collaboration has caused legal trouble.

Ronaldo was named in a $1 billion class-action lawsuit filed last year in a U.S. district court in Florida, accusing him of participating in an "unlawful" advertising campaign for Binance.

The lawsuit states that Ronaldo significantly promoted investments in unregistered securities, bolstered by his extensive social media following, thereby aiding and abetting Binance’s alleged fraud.

Binance was locked in a legal battle with the SEC, with the latter accusing the former of running an unregistered securities company. The 

Read Next: Former SEC Chief Predicts Inevitable Trading Of Ethereum Spot ETFs In US; Market-Data Provider Draws Parallels With Bitcoin’s Post-ETF Success

Photo via Shutterstock

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