Topic: Cristiano Ronaldo get 1 billion dollars lawsuit for his NFT failure - page 2. (Read 585 times)

I doubt this will end badly for Ronaldo. In the eyes of the law, fame and money does make a difference.

None of his NFT investors are going to get their money back, and Christiano Ronaldo himself will not face any harsh punishments. If he actually faces any punishment...

The way I see it, anyone who buys an NFT, regardless of whether the NFT issuer is famous or not, they should know the dangers of NFTs. I do not believe anyone would be in any way unknowing of the risks when purchasing any NFTs. However, if he duped his NFT buyers with promises or lies, then thats another thing.

To anyone who said that this lawsuit will not harm Ronaldo at all, then you guys are all wrong.
I see this as an extortion attempt but because the lawsuit brought in Florida = this can be serious matter for Ronaldo and he wont ignore this lawsuit.

In the US, Crypto = Securities and it must be registered officially. The people behind of the lawsuit action already knew that they might win and they have a bigger chance to win because Ronaldo NFT (one of Binance products) is not registered officially in the US.
And they stated that they bought the NFT because of Ronaldo, not Binance.

It remind me about this case https://finance.yahoo.com/news/lawsuit-alleges-shaquille-o-neal-155214236.html
There are 2 options for Ronaldo now, settle the matter ASAP or let it go to the court.

nft is high volatile than altcoins, i did not see a hype nft is stable or pumping for several times, i have received few nft and i sold these in the hype but after few months these are worthless. cristiano ronaldo never did such a promotion without knowing, crypto is volatile so we should not invest based on a celebrity no matter how popular he is.

Seriously does the sale of the nft comes with a promise of price stability and never to be dumped by the whale's? I mean, everyone who is in crypto have to be responsible for the outcome of their investment.
Perhaps there is a motive somewhere, but assuming the reverse was the case, will they be suing him for making too much profit?

I think the real question is why the nft was so heavily dumped, that doesn't appear to a normal market correction or bear market reason.
If this is a Rugpull then investors have every to file a lawsuit against him/ his team.

This is a lesson for everyone, just a celebrity is being use to promote a project does not guarantee success, most of them are not aware of what they are getting themselves involved with, they promote projects they have zero knowledge of just for the money, I really did not expect Christiana Ronaldo to go this route since he already worth so much.

The recent NFT project involving CR7 has shed light on a concerning trend in the crypto space: the exploitation of celebrity endorsements to fuel impulsive investment decisions. The promise of exorbitant returns, combined with the allure of association with a renowned athlete, entices many individuals, often lacking adequate knowledge or understanding of the inherent risks, to invest in projects that may not deliver on their promises.

This case highlights the potent mix of greed and hype that can cloud judgment in the investment domain. The potential for high returns, coupled with the influence of a celebrity figure, can lead to investors overlooking critical details and engaging in hasty decisions. This lack of due diligence and critical analysis often results in significant financial losses, as evidenced by the decline in the value of the CR7-promoted NFT.

This incident serves as a stark reminder for investors to exercise caution and conduct thorough research before committing their resources to any investment, particularly those endorsed by celebrities. It's crucial to understand the underlying technology, the project's purpose and roadmap, the team behind it, and the overall market landscape. Additionally, investors should prioritize projects with strong fundamentals, transparent communication, and a clear roadmap over those solely relying on celebrity hype.

I have never trusted NFTs and to me, it was just a hype and it will soon wear off. I think of NFT like this and that is exactly what happened to it. Some hypes and trend and after that it's gone. I am also not sure if Cristiano Ronaldo is involved in the main team of the NFT. But I don't think he actually knows what NFTs are. Maybe someone just convinced him to do it. I mean he has done many commercial in his life and the team must have approached him the same way.

I'm not saying that he's not guilty, but it is highly unlikely that he will be directly involved in this. He is busy with his other life and maybe he doesn't know much about this. He thought of it as an investment opportunity and take it. We will see after what happens in the court.

I'm pretty sure that CR7 will be safe from this lawsuit especially there's a thing called contract and some clauses their will save CR7 from any lawsuit especially if the project turns out into a scam one or a failed project.

Though this might hurt the reputation of CR7 especially when it comes to promoting any project, many will start to doubt because of this one. Let's see how CR7 will handle this case, hoping that the developer will help him to win on this case and save himself from paying that much.

The lawsuit looks very frivolous and doesn't make any sense to me.
I am very sure that Cristiano Ronaldo didn't force anyone to buy the NFTs if actually he was directly involved in it, and moreso the buyers ought to have done his research before investing in the NFTs purchase, so it is nobody's fact.

Since the crypto industry has been hyped these recent years and many investors come from many sectors, they failed to assure what they gonna promote and they led to this kind of embarrassment. their managers or whoever has been in charge of this has failed to research the outcome and they don't really care whether the business or promotions they promote are gonna last long or not and what happens here is a big mistake for them. Surely this will be a big problem for him and the people behind this NFT investment because it could create a bad image for him and also for those celebrities who suffer the same fate as him in terms of crypto promotions.

All that NFT story is completly useless, especially sports NFT

This case won't stand at all because there is no merit to sue the person by the investors and they can only sue them if its scam but technicallt NFTs can't be proved as scam but failed investment which investors should be aware of prior to investing on any investment in the first place so the case will be dismissed in just few hearings.

if you will make a short list of the world top 5 most popular athletes, cristiano ronaldo (cr7) is one of them, so of course he is a big sportsman,
and he will never contact sign with a company without proper research, binance is number one crypto exchange so it was a big deal with cr7,
i blamed to investors because did they know that investing in cryptocurrencies/nft is high risky?

I agree, you can see meta play to earn in 2021 and it disappears in 2022, but I see at the end of this year many projects are releasing similar types again, is the revival of play to earn already in sight?

Volatility is always present in the market and must be exploited to the maximum for us crypto lovers.


I wonder whether the presence of Cristiano Ronaldo will be able to revive the enthusiasm of the NFT market again. I think not. The NFT market will rise if everyone helps, not just relying on football players who are familiar and famous.

Volatility exists since from day one in the market, the earlier they know that, the better. First of all, I don't find it deem fit for any whale to pledge for a refund of his initial capital deposited because there are other failed projects in the space and no one was hold responsible. That's the actual normal incidents that happen in the market, we watch how Terra Luna project experienced heavy crashed and investors sued the teams behind the project, where did that case take them to? Cristiano Ronaldo have no hand in the heavy dump of the project, because we're all aware of NFTs failures these days in the market.

This happens all the time there, I remember that when the dot bubble finally burst many people were unhappy about the money they lost and they sued many of those companies, and the judge literally told them they had no case and they had to own their mistakes, so they gambled with their money and they lost, and this is the same, anyone investing in an NFT or a shitcoin is throwing their money down the drain and they should accept the responsibility of doing so.

Typical american's suing other for their mistakes. Ronaldo performed in an ad for a legal company and he helds no responsibility for the future of the company let alone someone losing on a product of that company. Binance might have clearly stated the terms and they still sue most probably in a hope to get something on settlement funds or are piloted by competitive companies. Binance would have to spend money to proceed. While in reality such case should have been closed on Prima facie and the applicant be fined.

Didn’t know this happened. But is it even valid? I mean; we all know that investment is risky and especially when you’re dealing with cryptocurrency. How would this even work? Why are they suing him? Didn’t they know that volatility is a thing in this space? Additionally, he didn’t ask them to buy the NFT. They must have done the due diligence of researching before actually investing.

Maenwhile (Ronaldo): Please read term & condition ~XD

I don't understand about these people, I think we all agree (Ronaldo) not really care at all for the adds or brand they're partnering with him. IMO, Binance or the platfrom who are partnership with him are the one who take care more of the NFTs.

The sale NFTs from (Binance), in the doc about investment & t and c we already have information about risk we're gonna to face.

But since there's already a law suit, I think that he'd just let his lawyers work on it. He didn't do his due diligence pertaining to this partnership that he's got with Binance. And I think that other athletes and celebrities will have to do it next time if there are endorsements offered to them. Because if they're not going to do it, they will end up into a hassle of clearing their names with some fines on the side because it could be a product that will mislead not just investors but also the government.