Topic: Cristiano Ronaldo get 1 billion dollars lawsuit for his NFT failure - page 4. (Read 585 times)

That is it but the things could go further than that because of the nature of NFTs some of that athlete made a lot of progress and development to the extent of launching their NFTs so if this be the case then it means that CR7 will have a tough time in the legal battle.

But then also it all ball down to his direct involvement in the project and how deep the terms of the contract is if he is just an advertiser or not.

My personal view is that if CR7 does not promise NFTs he will benefit when someone buys I think that to whatever extent the lawsuit will not affect CR7.

Basically NFTs are works of art in cryptography, we can say that it is an asset, just like a picture of Monalisa or other works of art in the real world, and I think it's different when someone buys coins and buys NFTs, so who is at fault depends on the narrative brought by Ronaldo himself and what kind of narrative is brought when the developer markets CR7's NFT.

I don't know what these guys stand to gain in this frivolous lawsuits, I believe there must have been terms and conditions signed before buying the NFT and this is a very volatile market, just imagine if the price had gone up would they be suing him, no they would all rejoice, since price is relative they price is currently around $1, who tells you it can't move up to $100 within a month. I bought Trump 2 NFT, and it dumps after the sale but when back to $100 again.

i feel it too. much like Al Capone is watching over who's naughty or nice.  
if you also oppose what they are saying, you'd be branded by them. you'd have to kiss ass so you can go along together. there is freedom here compared to social media but you're still closely watched.

regardless of how rich you are, you can be targeted. CZ paid a huge price and Ronaldo seemed like collateral damage. and its a warning to all who want to follow them. Elon Musk i think is about to get wrecked too.

In my opinion cr7 is just an advertising model figure to strengthen those products that are paid to promote and we need to know what is really happening and this matter should be handled by the authorities with public transparency. If you become a victim, will you do the same as investors who experience losses by demanding compensation?

I can't remember exactly if there is any of Ronaldo fans that publicly display his NFT bought from Ronaldo, I didn't see it on the social media for once, that said. The question that is unanswered are is NFTs an investment or kind of endorsement just to have special benefits like hangout or some personal Jersey for the fans who participated in this NFTs sales, I don't think there is any law broken but who kknows there are some broken as a US citizen.

Another unanaswered question is that, the sue is it limited to only Ronaldo or together with Al-Nassr because I don't get why US will slam $1B fine on a single person when he didn't carry out any special robbery in any bank of US, they only trying to feed from where they didn't contribute if not, how much exactly did Ronaldo earn from Binance to warrant this huge amount of money, US can go fuck their self this time around.


Ronaldo is not a fool I believe, even when I prefer Messi over him he is smart and I think he must have contacted his lawyer before taking such kind of deal, there are many football players that are as famous like him but none of them has done crypto endorsement, he did his thing during the 2022 world cup as if nothing matter to him, I'm sure even Al-Nassr will have given him go ahead before making such decision because they know that if he take wrong step, it will affect the club.

Nothing is unfair in the world of finance and how to dominate it. Pay more to the lawmakers and they will never question any company.  What we are witnessing is just another step by the SEC and the US government to stop cryptocurrency exchanges from operating in the US. Many more such lawsuits will come before January and many more will be on those who promoted an exchange, that has already accepted that they are guilty. This a classic case of how to shut down anything or anyone who opposes the financial dominance of financial institutions. You should look at the way our forum has become and then you should understand on what level these federal guys are now operating.

it's quite unfair for Ronaldo though since he is just advertising, it's out of his concern what binance is doing since what is only aware of is the business is huge and is paying him.  while other advertisers are not fighting a case. but he is an easy target for money grab after all he is rich.

Tom Brady for example had promoted FTX which is proven to have scammed investors. but authorities just let it slide. $1B is going to bankrupt Ronaldo.

They are just going after anyone who has a connection with binance or has worked with binance before. This type of action is not good for the industry as it will turn the influencers away from the market, fearing they will be in trouble in the future for any involvement with this market. I think those who invest in this market and any product or service must be well aware of the risk associated with it so when things go down they straights go to the law and agency and don't want to blame themselves for being greedy.

  Although NFT is really a part of the crypto industry, the hype that is often done here can't be removed to persuade investors to believe in it. Since I entered the business industry of the crypto space, I have never tried to buy NFT on the market, like on Binance.

  That is quite a big problem for Cristiano Ronaldo. I hope he can also overcome this problem that he is facing now by being an investor in NFT in this field of crypto. Then it's just common sense that it's just NFT; that's what's surprising; it's not touchable, and that's what's more expensive about that art.

The lawsuit is just very funny to me and does this worth to be sued?
Because he is a billionaire and a celebrity that is why they think they can sue him for nothing. We need to understand that the crypto market is very risky and any investment we are makin, we need to invest what we know if we lose it wouldn't affect us. The market is always going up and down and they can likewise wait for the market to go bullish before they can ever know whether they are in loses or profits. This does not worth to be sued at all. They are not in loses yes for now until they sell their holdings.

This is unacceptable and the acclaimed investors are just as hurt as any other investor that invests in altcoin and didn’t get enough profit as expected. When investing in most of this projects, there is always a disclaimer most especially on all exchanges including binance about the risks involved in investing in such coins. If there was such disclaimer which I’m sure there was for them, this lawsuit will be disregarded.

Cristiano Ronaldo is a great public figure, they might want to make him repay them for their loss since he has the money for that but this doesn’t concern him at all, and a lawyer will stand for him and win this case. I don’t like seeing investors coming out to blame a particular project that didn’t do well when they knew they were risking their money into investing in such projects.

This was coming long time ago as it's a fault and greediness of both the starts like CR7 and the investors. Celebrities should stay away from investment scheme and not endorse any of them. NFT itself was a scam and celebrities popping into it made it a large scam with more money being pooled in from naive investors. This should be a lesson for celebrities that they shouldn't get involved or endorse which they don't control as this is not like a product endorsement as it's about investment at huge margin and for investors they shouldn't blindly go with whatever is been advertised.

Money, obviously.

Dumping and pumping depend on the trading volume of the project and the strong community and solid team behind the project. Elon Musk should teach Ronaldo how to run the crypto market because the multitude will only go for the trends and leave the price actions. Cristiano Ronaldo is a popular footballer and also an acknowledged figure in the world, for not just football but also in variety of important sectors. Unfortunately he didn't study enough about his project, Ronaldo failed NFT project have cost top whales and companies to record heavy loss which is absolutely not the plan he intended.

This should be a lesson to everyone not to buy anything just because their favorite superstar is endorsing it, because most of them are just paid to advertise  products that they know nothing about. This celebrities are business people, if you can afford their fees then they can advertise your underwear for you. I'm sure that when the fans that sued Christiano Ronaldo, goes to Court, they'll surely show them a disclaimer where the superstar is absorbed of any blames if his endorsement doesn't go as expected.

On the other hand it'll still be good if our celebrities will understand the risks involved in whatever they're endorsing, because their fans will buy the products just because their idol has endorsed it. It is possible that Ronaldo, doesn't understand the risks involved in cryoto investments, especially if it's not bitcoin, I hope this is a lesson to him to choose wisely before endorsing any other products.

Cristiano Ronaldo is not the developer this NFT, he was ambassador of Binance and Binance it's developed and selling CR7 NFT so it was launched with his consent even i saw he promoted this NFT on his Twitter and Instagram. But i see no fault here to CR7 because Binance or he didn't forced to buy this NFT. Ronaldo will win this case hopefully.

Investors made some really poor choices by buying into the NFT hype and are now looking for the government to bail them out. Anybody that actually believed that monkey drawings were really worth millions of dollars and anybody could get rich from investing in pump and dump tokens has nobody else to blame but themselves. You didn't have to be a genius to figure out that the bubble would eventually burst. They are responsible for their own choices and should live with those consequences instead of expecting reparations.

Wow, this is shockingly surprising, he is not even the developer or owner of the NFT and yet he is been charged $1 billion, that is a lot of money. Even if he is capable of paying it l, its still to much as a legal penalty for him, beside he only acted as an ambassador, not that he is benefiting from the increase in investors or the scam activities from the developers. This issue is really not worth the amount he was sued for. I just hope his lawyer would be able to stand his ground and make the right appeal, is it because he is an influencer?

His name was just for sure used for that marketing and then the sale that has happened will need for him to ask Binance for help.
That is a lot of money that CR has to pay with that and that is scary when you have been used for an NFT and then you have to pay for the fine in a billion dollars.
His profit from the contract with Binance was even nothing compared to this potential fine.