THE Binance, crypto exchange, announced this Thursday (23) a partnership with Portuguese football player Cristiano Ronaldo. The announcement was made on social media and the focus, as per the announcement, will be on games NFTs and Web 3.0.
“We are kicking off a multi-year exclusive NFT partnership with football legend Cristiano Ronaldo. This is your opportunity to own an iconic piece of sports history and join the CR7 Web3 community.”
The player is considered one of the most engaged profiles on Instagram, and has 459 million followers. For Changpeng Zhao, CEO of the brokerage, could be a step towards greater adoption of this asset class.
“He has earned one of the most dedicated fanbases in the world through his authenticity, talent and charitable work,” said Binance founder and CEO,” says.
On the broker’s official website it is informed that the partnership will begin with the launch of a collection of non-fungible tokens (NFT)which will launch exclusively on Binance’s official NFT platform.
“The first set, due for release later this year, will feature iconic designs created in collaboration with the player himself. “Nothing is more important to me than the fans. I want to be part of this idea of bringing unprecedented experiences and access through this platform”, said Cristiano Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”
Proud to be partnering with @binance
Together we’ll give you the opportunity to own an iconic piece of sports history.
— Cristiano Ronaldo (@Cristiano) June 23, 2022
Binance investing in Marketing
The crypto exchange has been standing out when it comes to marketing. Binance has already closed sponsorship with Santos Futebol Clube, with The Weeknd and influencers who produce content about the cryptocurrency market such as Bianca Chagas.
The company is also a partner of the Argentine Football Association (AFA), the Brazilian Football Confederation (CBF) and the football clubs Santos FC (BR), SS Lazio (IT) and FC Porto (PT).
Despite the downturn in the Marketplace followed by several layoffs among other brokersBinance Exchange CEO Changpeng Zhao, or CZ, commented at Consensus 2022 that they are “in high gear in terms of M&A activity [fusões e aquisições]”.
What is a Binance Partnership Agreement like?
The type of contract signed with the player is not certain, however, according to Bianca Chagas, content creator partner of the broker, her contract with the company does not foresee expiry date, and if Binance sees that the partnership is not bringing in many returns, it is free to terminate.
In terms of values, Chagas comments that each brokerage partner earns rewards in BUSD – a dollar-backed stablecoin issued by the company – for qualified content.
“Contents that perform well in viewing can earn up to 10,000 BUSD. Partners have a referral link that earn commissions for registrations in the same, and trades that the person who registered made”, he explains.
She says that during the month, Binance also sends out other campaigns to produce specific content, and earn rewards for that. The exclusivity is given bywill not be able to advertise another brokerage, as he explains.
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