Binance, the world’s largest cryptocurrency exchange by trading volume, announced Thursday that it has signed a partnership agreement with soccer player Cristiano Ronaldo to promote NFT tokens.
Non-fungible tokens, or otherwise known as “NFTs”, which have become very popular this year, are a type of digital asset on the Blockchain technology.
As part of the multi-year agreement, the Portuguese soccer star and Binance will create a series of NFTs for sale on the company’s platform, the crypto exchange said, adding that the first set will be released later this year.
It is worth noting that crypto companies rely on sports partnerships in an effort to attract investments and increase sales. Last year, Crypto signed a $700 million deal to return Staples Center in Los Angeles as Crypto.com Arena, while FXD Trading Ltd sold a stake to NFL quarterback Tom Brady.