- Cristiano Ronaldo faces a $1 billion lawsuit over his promotion of Binance NFTs.
- Real Research moves to seek public opinion following Ronaldo’s lawsuit.
- The lawsuit alleges Ronaldo misled fans with his Binance NFT promotion.
Real Research, a blockchain-powered research platform, has taken to social media to seek public opinion on the high-profile $1 billion lawsuit against the football legend Cristiano Ronaldo over his alliance with Binance.
The research firm announced the development through a post on its official account. It urged crypto market participants and the broader internet communities to share their views on the class-action lawsuit seeking $1 billion in damages. Per the notification, it is a one-week call for public input scheduled to end on December 21.
Notably, this legal action against Ronaldo stemmed from his endorsement of Binance’s non-fungible tokens (NFTs). Last year, Binance revealed its inaugural collection of NFTs titled “CR7” in collaboration with Ronaldo. The widely acclaimed footballer saw the collection as a means to appreciate fans for their support over the years.
A year later, Cristiano Ronaldo is now confronted with a high-profile lawsuit in the United States following the deal. According to the plaintiffs, the promotion conducted by the Portuguese football star for Binance and its offerings was deceptive and unlawful.
Furthermore, the plaintiffs asserted that Binance’s collaboration with prominent figures like Ronaldo lured individuals into making costly and imprudent investment decisions. Moreover, it claimed that Binance’s collaboration with Ronaldo proved incredibly successful, pointing out that online searches for “Binance” surged by up to 500% following the release of the CR7 NFTs.
The statement read:
Evidence now reveals that Binance’s fraud was only able to reach such heights through the offer and sale of unregistered securities, with the willing help and assistance of some of the wealthiest celebrities across the globe—just like Defendant Ronaldo.
Reportedly, Ronaldo’s NFTs sold between $77 to $10,000, centered around pivotal moments from his illustrious career.
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