Mon, May 27, 2024 at 13:26

• 

  Joy

  • Hey Annie!

  • Guess what?

  • Cristiano Ronaldo is launching his fourth NFT collection with Binance on May 29th!😃

  • 
• Annie

  • Wow, really?

  • That's interesting!

  • What will the collection include?😊

  
• 

  Joy

  • The collection will showcase highlights from Ronaldo's amazing football career.

  • It's like a digital tribute to his journey!🚀

• Annie

  • That sounds cool!

  • Do we know how many NFTs will be in the collection or how much they'll cost?🤔

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Not yet.

  • They haven't disclosed the exact number or the pricing details.

  • But they did mention that the price for each Normal NFT will be the same, while the Super Rare NFT will have a different pricing structure.💰

• Annie

  • I see.

  • Have Ronaldo's previous NFT collections offered anything special?🤩

  
• 

  Joy

  • Oh, definitely!

  • Previous collections have given holders exclusive opportunities, like playing football with Ronaldo himself!

  • How awesome is that?⚽

• Annie

  • That's amazing!

  • But I've heard there were some legal issues with Ronaldo and Binance.

  • Is that true?😮

  
• 

  Joy

  • Yeah, you're right.

  • Last November, Ronaldo faced a class-action lawsuit in Florida.

  • The plaintiffs claimed he was involved in the sale of unregistered securities with Binance.😬

  • 
• Annie

  • Oh no!

  • That sounds serious.

  • What happened with Binance?🤨

  
• 

  Joy

  • Binance has been under a lot of regulatory scrutiny.

  • Last year, the CFTC charged them for operating an illegal digital asset derivatives exchange.

  • The SEC also charged them for unregistered exchanges and securities sales.😕

• Annie

  • Wow, that's a lot of trouble.

  • Did Binance admit to any of these charges?😟

  
• 

  Joy

  • Yes, they did.

  • Binance and its former CEO, Changpeng Zhao, pleaded guilty to several federal charges, including anti-money laundering violations.

  • CZ even resigned as part of an agreement with the DOJ.😲

• Annie

  • That's huge!

  • Has this affected their business or the NFT market in general?🤔

  
• 

  Joy

  • Definitely.

  • There's been a trend of companies pulling out of the NFT space.

  • Starbucks ended its NFT rewards program in March, and GameStop closed its NFT marketplace in January.

  • Even X (formerly Twitter) stopped allowing NFT profile pictures.😟

• Annie

  • Wow, it seems like the NFT market is really struggling.

  • Do you think this new collection from Ronaldo will be successful?🤷‍♀️

  
• 

  Joy

  • It's hard to say.

  • While Ronaldo's name might attract attention, the legal issues and the overall decline in the NFT market could be significant obstacles.😕

• Annie

  • So, would you say this news is more of a negative for the market?🤔

  
• 

  Joy

  • Yeah, I'd say it's more of a negative.

  • The legal troubles and the declining interest in NFTs could make it tough for this collection to succeed.😔

  • To sum up, this article is considered a 😱Bearish for investors!!