Manchester United star Cristiano Ronaldo has entered into a multi-year partnership with crypto exchange Binance to launch its own NFTs, we reported yesterday. Experts now believe the deal could set a precedent for other sports icons to follow in Ronaldo’s footsteps.
NFTs are rapidly gaining momentum around the world with many celebrities endorsing digital tokens, either by minting their own collections or by buying them at high prices.
Celebrities like Paris Hilton, Snoop Dogg, and Tony Hawk all have the NFT experience, and the Portuguese soccer star is the youngest member of the club.
Ronaldo NFTs will be sold out in seconds
Ronaldo is currently a prominent footballer who has hundreds of millions of followers across all social media. NFTs are sure to sell out in seconds when they hit the market, and then they’ll trickle into the secondary market and create more hype.
Andy Lien, Senior Digital Advisor, Mongolian Productivity Organization
When asked about an estimate of the value of Ronaldo’s NFTs, Lien said that when it comes to individual features with exclusive rights, “a few hundred thousand is not an issue” and that this price range is in line with the current market reference for NFTs prices and Ronaldo collectibles.
Lien said signing large intellectual property deals like this one is also part of the bear market strategy. It is necessary to bring in “fresh blood” from the non-crypto space to support the market now. “I’m also curious about what other central markets like Bybit will do next to get their share of the pie,” he said.
In response to another question, Lian predicted that South Korean boy band BTS or basketball player LeBron James would be the next to release their NFTs.
Binance needs this partnership
Raj Kapoor, senior advisor at crypto firm Acryptoverse, points out that Binance needs to partner with Ronaldo to boost the value of BSC’s native coin and secure a larger share of the NFT market.
When asked about the value of Ronaldo’s NFT group, Kapoor said it was risky to give estimates. But given the history, Ronaldo’s fortune may increase dramatically soon.
“Ronaldo will make more than $5 million with this new partnership and I’m conservative,” Kapoor says, predicting that “media darling Lionel Messi could launch the next NFT group.”
Kapoor says that with a fortune of over $420 million, Messi remains a celebrity and has an unparalleled following, and he wouldn’t be surprised if his next big target is in the NFT space.
just the beginning
Germany-based Aliasgar Merchant, founder of Learn Web3 With Us, believes that the adoption and promotion of NFTs is an indication of the prevailing acceptance of the Web3 space. But also an underrepresentation of what NFTs can do.
Predicting what kind of revenue Ronaldo’s NFTs will generate is quite bold given the bear market prevalent in the cryptocurrency market. So far, Snoop Dog has made about $100,000 from its NFT sale. I expect something of this magnitude for Ronaldo as well, assuming market conditions don’t get any worse.
Aliasgar Merchant, Founder of Learn Web3 With Us
Merchant went on to say that the trend of celebrity NFTs being launched is gaining momentum. In his opinion, this is just the beginning of other sports icons to join the trend. “If I had to guess, I would have expected Neymar and Novak Djokovic to be next,” Merchant said.
Sustainable prices under the influence of supply and demand
According to Tapan Sangal, founder and evangelical president of tech company P2E Pro, the initial asking price for a kit like this depends on fan enthusiasm. But the long-term price will depend on supply and demand in the NFT market once the particles are settled.
Sangal expected footballers like Lionel Messi, Neymar, Mohamed Salah or even Pele to be the next launching their NFT kits.