Topic: Cristiano Ronaldo get 1 billion dollars lawsuit for his NFT failure (Read 648 times)

I am curious to know the latest on this case, I have being searching the internet to see some information as related to this case, but it seems that there is no public updates on this Matter or is it that I am searching the wrong direction and need to look other ways.

If so be it that I have not gotten any information and any one that have any latest update on this case can update me with the latest as regards to this Christiano Ronaldo case.

Honestly if people were dumb enough to buy the nfts then they shoukd be accountable for themselves.  The price of the nfts is dictated by the free market as it should be.  I don't know why so many people are surprised that all of these nft prices fell off the face of the earth.  They are useless digital pictures for the most part.  99.9% of all of them do little to nothing for the owner of them.

on social media I read that CR7 was sued in court but I didn't pay much attention to it because I thought it was fake news. I forgot how much money the lawsuit was worth, which was definitely very large and there were also those who commented that this value was also quite large for CR7. If it is true that CR7 is involved in this case, it is very unfortunate because this news will definitely have a negative impact on the crypto world.

First those investors have a very wrong mentality about NFTs and this is why many of them have fallen victim to so many of those promising NFTs collections, the problem with most cryptocurrency investors is that,  the take those projects too serious and at they become so greedy to the point that they point high hopes in those projects,  this situation is a bad one and the approach has ended up disappointing many of them in recent time.

Just like in this case,  why should one invest in a coin just because you saw a prominent figure in society promoting it,  without checking to know what the actual team behind that project is,  this is a very sorry situation and in the long run, there may not have anything on the footballer as long as this case is concerned.

The case towards Ronaldo won't progress because of the lack of solid evidence.
Yes, they can pursue a million-dollar lawsuit, but what is the chance of really getting money out of it?
Of course, Ronaldo's lawyers are not sleeping on this. They already know what to do on this case.
So I don't really think that Ronaldo's camp feel pressure on this. The complainant for sure has no solid backing of his claims.

The problem in this case is that investors should be aware of what they expect by investing in NFTs because in the end this only goes back to the collection not to others than most even though there is Cristiano's name behind them as one of the soccer players or perhaps the most highlighted athlete in terms of popularity today still we should not expect too much in this case.
Besides, if we are talking about Investment then we should know the risks that we will face especially to be in NFTs because after all this will be very much more risky for now except maybe for the previous few years where the NFT hype was still very high maybe this can also be considered.

I am not trying to defend Cristiano's name in this regard but when it comes to Investments, the decision is ours to make and that does not mean that just because Cristiano entered into a partnership for the manufacture of his NFT millik when it does not match the purchase price then we can sue because there was no compulsion to buy in the first place.

Really at some point, we are beginning to have some kind of ill feelings regarding those NFT investors because most of them should have known better that the party is over,  and anyone buying into those NFT collections should be doing so just for the love and fun of it and nothing more,  if you are lucky to have cash on the wave,  you take the profits.

But if you are unlucky such as in the case with the investors in this Chrisrano Ranaldo case,  because many of them do not have a direct deal with the player and he just promoted the project and possibly an investor also who has lost.

I don't misunderstanding of the Crypto market is what normally make people to take the wrong decisions. We have not entirely lose all our funds if we buy a crypto and the value drastically deprecates. We need to wait for when the market would go bullish for us to know whether we have really lose money or just the value of the coin or token that loses value. Cryptocurrency is all about patience if the project we are holding is not yet a rug pull. The people that bought the NFT need to relax and wiat for the bull market.

This is actually a funny thing to me because I had previously read that Cristiano was only partnering and promoting NFTs himself but in the end this is also not a compulsion to buy Ronaldo's NFTs especially since we know that the hype of NFTs is almost over and those who claim to be investors should know that because this is only about collections, don't expect too much more.

Indeed, in this case, doing promotion also carries a big risk for Cristiano but on the other hand, in the end, those who have been in crypto for a long time should understand that hype like NFTs will not last too long so demands like this I think cannot be done because in the end, what do they want to expect by trying to buy or hold many NFTs with the Cristiano theme because in the end they should also know that something like this will not last long.

Is ther any updates on the case have the player been charged to court? Or or what the latest on this case since we have alot of such projects that have leads investors to grave losses and are promoted by well know societal men as influencers?

Sometimes famous people don't fully understand the things they are promoting and they might just be interested in making easy money ( because everyone has greediness). It is important for everyone to do their research and understand the projects they are involved in no matter how much money they have.
But they both celebrity and the company have some knowledge and should think first that what they are doing. Is this legal or not. This will not make a problem in future like Ronaldo is facing.
So we should also be careful while investing.

To be honest, I am not even sure why a football super start like Cristiano Ronaldo thought that getting into promoting NFTs was a good idea for his personal finances or for his public image. I don't even know what could have pushed him to accept such a deal, specially keeping in mind he already has much money.
I am even pretty sure he did not even was aware what a Non fungible token is about and whoever was behind all if this managed to convince him this was rather some kind of collectible project, like those classic ones one can find in the form of cards or figurines. In the end, when comes to projects like these ones, those who promote and advertise them do not even care to fully understand or check whether what they are advertising is legal or at the very least, not shady.

If there is something to learn this stories like these ones is even people who already have enough money to live a comfortable live for the rest of their existence can fall for the "easy money" offers and get themselves trapped in legal suits like this one. Though, I pretty much doubt this will be the last time someone of such a huge profile will Fall victim of their own love for money and ego.

so far nothing serious has been happening, no further news about it either, I guess this lawsuit is invalid due to maybe the buyer of NFT are agreeing to term and condition first hand before buying therefore all these lawsuit made by these so called NFT investors are just invalid bluff.
this should be a lesson that advertising NFT could be a problem because the one that bought NFT don't have even the slightest idea what they are investing therefore when thing goes south people are angry because their investment that supposed to be life turning for them to turn their measly few dollars into millions if not billions turning out to be not so good investment after all.
ridiculous lawsuit but thats the thing thats happening around the world of investment some people are just not cut it to be investor and should just stick with getting salary each month because its risk free.

Wiwo link, Tom Brady is sued for [url?https://www.marca.com/en/lifestyle/celebrities/2023/11/09/654d2e4a46163fde7e8b456d.html]8 billion dollars[/url] for making FTX related ads. It just takes time to build a lawsuit that sticks. I think that Matt Damon must thank his lucky stars he picked crypto.com from all the exchanges to advertise. And i seriously doubt he would do it again.
And i am thinking that any celebrity will cover all of their legal bases in the future, before running ads for crypto exchanges or coins. It could be hard to get celebrity endorsement in the future after these kind of fines.

JeffBrad12, even if investors should know they aren't investing, it doesn't help if ads even hint about profits. Or if marketing / celebrity in any way tweet or mention that someone sold something in profit. And NFTs are pretty much a synonym with profit speculation. Even if it would be generally known as a bad investment.

This just shows how little they know about the markets and the world in general, if anyone is scamming them are the lawyers that accepted their case, since they must know that it is going to be basically impossible for them to win it and they are still going to charge them a lot of money for taking their case, so if anyone wants to invest in this market there is no problem with that, but they need to accept the very real possibility, or even the certainty in some cases, they will lose money, and if someone cannot accept that fact then they need to get out of this market.

No one is incharge of the market, all these top companies can handle to manipulate the market but doesn't take full charge. NFT are not 100% guaranteed of exploring in the market, there's something we call dump and this hits really hard on NFTs this season. Those traders especially the scalpers and spot traders can easily brief one on the capacitance of bull and bear season. Cristiano Ronaldo doesn't fall victim of been convicted because he only promotes the projects as the frontrunner but the NFT falling, how does that link up with him? There's a whole lot of explanations  to tender if they can actually think of winning Ronaldo in lawsuit case.

I think this is the second place I would ever read about this, it can't stand at all, and I wonder how a lawyer would be so daft to the extent of agreeing to sue a person simply because of their influence in NFT. For a reputable and very popular person to promote a project is never a crime especially if he also has his investments in that project. As we all know, lawyers know this but are in for the money and not for the welfare of the suer, so let's leave them to make money out of the foolish people who believe they can always sue everyone for just any cause.

C. Ronaldo started well and he shall end well, damn the critics, they will try but will always fail. I do not know how people would blame someone for their folly, and they call themselves adults. Well, there are foolish adults as no one forces them to invest in anything, yet they complain. Maybe they can tell the court that they invested due to the social status of C. Ronaldo without using their brains and without doing their own research but still agreeing to the risk involved.

It's pure nonsense!

That is life for you,  while some of them already may have gained from that investment, because you can't tell me that the NFT just turn shit right from lunching time because many of such cases,  it is the investors who may have allowed their greed to take the better part of them by not selling their holdings while they have the chances to do so,  and a lot of time most of those forks only lost a small amount,  and if it is that CR7 is just a promoter of the project then he will not have any obligation to them why it may be an obligation to him is when he has a direct contact with those investors and have given them his signature,  this is because a lot of time,  most of the celebrities that bring out such projects always promote it to they close friends and associate and some time,  many of those people, invest huge amount and if the project is selling in shares,  they will go ahead to invest heavily by buy a huge amount of the shares and that way,  Christian Ronaldo will sign a deal.

But anything outside that,  I don't think CR7undunder under any obligation to even honour that court case,  and it better still,  he has his management and their legal team let see how things go as we keep an eye on the case to see what the current update with the case,  but since we are still in the middle of international leagues,  the star play may still be busy in his club side and ain't respond anytime soon but still we have to look for any possible updates and the lawsuit progresses.

its always like this some people are just always trying to blame other people for their own mistake same with this case, suing people just because investment went down while there are definitely not a single soul forcing them to buy the NFT but they just go on buying this thinking they gonna be millionaire but alas they lost their $75 as if its their biggest lost ever so they can't accept this and think ronaldo is scamming them.
some people are truly better off not investing anything because once they are losing they try to blame other people for their own mistake and as a result they just got themselves into trouble.
after all, i think even the dumbest person in the room will definitely know that these NFT aren't truly an investment but just some pump and dump fueled by the hypes therefore investing in it would be stupid, regardless I think ronaldo won't care about this lawsuit.

I doubt Ronaldo will need to actually use his influence or his money to avoid any punishment, as to me this simply seems as if those that invested in those NFTs are just a bunch of bad losers that cannot accept they made a bad investment and this has cost them money, however you can be sure they are going to try any legal means to recover their money, and this could even be an attempt to try to smear the name of Ronaldo publicly so a settlement is proposed by his lawyers.

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.

But looking at this lawsuit, I don't think this will end successfully. I mean for the one who is suing Ronaldo.
This will take years and years and won't see those billions from Ronaldo because for sure he has good lawyers already into it.
They will find loopholes, technicalities or whatever they will find just to stop this drama. This won't go far in my opinion.

Because of the cristiano Ronaldo image on the project is the major reason why most of those who pumped in huge sum in investment into this token did so without doing any personal due diligence to know whether or not the NFT project will succeed or not,  and also many of them also got greedy along the way with the way and manner at which their blindly trusted the speculated listing price of the NFTs so for sure,  we can't blame the star player unless he is part of the team.

But if only he is paid to just promote the project and with a crypto disclaimer as not an investment advice,  that way he may have a case in the court and can possibly avoid this law suit,  and many time also he may not even visit the court room if he has strong legal team to represents him in court, let see how thing goes with the case and what we except to see as the next development with this case.

It's not surprising that many of the investors of CR7's NFT is just all about buying it because it was his name that's embedded on it and there was a partnership with Binance. This teaches a lot of lesson for those that have bought it and what they get for buying it? Nothing.
They just have to wait until the price goes up and CR7 wasn't even aware of what's the crypto scene and this lawsuit that he's got for, well, what a messy thing that he's got into this partnership.

On what year you are referring? As I also saw a similar topic but it was only last day I guess and it wasn't also about NFT but it is only said that Ronaldo is being sued because of his relation to Binance, as Binance was also being sued again by the SEC.

You got a point there, and I was also going to say the same thing. I find it funny on why investors blame Ronaldo for their loss? LoL. The guy is only being paid to promote but the mastermind here is still Binance. But again, it is also the fault of the investors. If only they do their research about how risky these NFT's was, they will be more cautious even these NFT's came from a popular and highly reputable sources.

When I saw that Binance was mentioned in the lawsuit as the custodial exchange that sold the NTFs I thought it could possibly end well for both parties but then I remembered the recent crisis that hit the exchange in recent times,  and what their debt ratio is right now, much time we have seen celebrities getting into problems like this just because they failed to do due diligence research before offering to promote the project because most of them have fallen to this crisis of management failure to discover future problems and what their motives are.

I think the $77 sell price was the initial and the team promised a certain predetermined price which was promised to the investors and at launch,  they saw that this token failed to increase in price and also fell below the price sale which is what have triggered the anger of investors.

its not even deserving to be called an investment, its just collectibles, ronaldo might iniitially thought it was legit business because the ones that released the NFT was an exchange with billions of dollars of trading volume that is binance so I guess his management thought that its gonna be fine but we all know some people are so detached from reality they think every investment guaranteed them profit and if they instead losing money it must be the fault of someone.
its simply ridiculous how just a mere $77 could become billion dollars lawsuit, well regardless people should know that NFT, arts more specifically, is just collectibles not investment, anyone should be conscious that these NFT are more likely gonna be ending up having low value if there's no one that bids, after all its art.

Hopefully there will be a bright spot for both parties so that no one is harmed. It is true that investing in NFT is a very high risk action, especially as a newcomer who doesn't understand much about the dangers of investing in them, so knowledge is really needed and that's the way it is. Hopefully this case will soon get a quick solution and become an example of a valuable lesson for everyone

Most people get fooled and I will really balme them, the investors should be blamed and I will also blame cr7 for not making a proper research before advertising, but who am I to criticize Ronaldo maybe they offered a juicy offer to advertise.
If every investor starts following social media influencers or celebrity without making proper research then all influencers might end up in court cases, all this influencers or celeb they don't know what they're advertising they just do it for the money and I don't expect a serious investor to be fooled cause they get paid for advertising for example cr7 is a footballer with the highest followers on instagram just imagine seeing your favorite celebrity advertising a coin.
Seeing this news tells a lot about modern investors, they're just investing cause of the money not for the knowledge.
 

Personally I think the NFT issue is an investment gone wrong I believe Cristiano Ronaldo would win the case, I likened the case to a investor who invested in an altcoin which eventually dumped and faili thus investors are demanding for their money, had it been the NFT project was very successful and all it investors earned massive profit no investors would raise an eyebrow about it and again other NFTs that failed nobody is sueing their developers to court why is it Ronaldo 's own case different ? Let all investor of Ronaldo NFT failed project move on they have no case and surely they can't win the case I believe experience lawyers hired by Ronaldo would win the case.

If it is true that this athlete is involved in a very deep contract, what bad things will happen to him? However, all of this certainly requires more in-depth study and the involvement of legal authorities, especially if there are victims who report this case. This is certainly bad news, especially if it is true that his involvement is because he is a very famous athlete, then this news will quickly spread widely

Very correct,  because most of these celebrities are just influencers, and most of them don't even own the coins in they allow the face to be used to deceive gullible investors who may have failed to carry out more research about the coin/NFTs the hype in the market has dragged along of celebrities into a state of a mess because of the involvements in some few failed projects.

I wonder what the investors were thinking,  because as an experienced investor,  I understand the market and how it may react to things,  so any project that promises and outright profits is definitely a scam and most don't even have a users are,  just like in the case of this CR7 lawsuit and his involvement with the failed NFTs project.

more likely he will not found guilty, why? its an NFT as a result of christiano ronaldo partnership with binance, there are also term of service or something like that that binance prepared for the NFT sale back then I think,this NFT was created just for fan that want christiano ronaldo NFT not for these so called investors that sue just because they lost money, they should know well that NFT is not an investment and if it increase in price then it just means because some people are eager to get that NFT maybe they are collectors of NFT more specifically a prominent world player like CR7.
I don't think its gonna be that big of a problem since even the NFT itself costs peanut, but we will see, after all there will be presented the proof but more likely not gonna be a big problem for CR7 himself.

Now I don't know much about laws but is promoting a project that later became a failure something you can be sued for? I mean it'd be a different thing if the man had an NFT under his name, promised X amount of profits(like exactly X amount, not a maximum of X amount since that can be argued on) after y amount of days and stuff like that but I reckon it wasn't. Heck, from OP's words, He was only hired (or a small part) of the team since he "promoted" said NFT's.

Upon reading some more, it was more of a collaboration between him and Binance with Binance doing most of the grunt work and Ronaldo doing the promotion side of things. From that I think we can assume that the NFT wasn't only his idea. If things continue Binance might get swept together to the lawsuit or it might become ultimately dropped if they do get involved.

Certainly, Cristiano Ronaldo, the football star, was promoting the Binance platform, where Binance signed a contract with him due to his massive global fan base. As a football player, What does the marketing he did for the platform and his wages have to do with what CZ admitted to and his actions? He did not force anyone to buy his NFTs; there was an agreed-upon disclaimer. It is not CR7’s fault that he should bear a billion dollars from the lawsuit indicating the failure of his NFTs and that Binance exploited his name and fame to promote its platform and assets, aiming to attract football fans to the cryptocurrency field. However, the truth is that NFT prices fluctuate like crypto, and every investor bears full responsibility for handling losses. Cristiano Ronaldo or Binance cannot bear the failure of NFTs after their prices dropped to a dollar.

The thing is that,  investors lost billions of dollars to Christiano Ronaldo-endorsed NTFs and it may likely be that he is the sole owner,  and if that is the case then he may get robbed of an investment scam,  but if he is not a member of a team,  that will be a different ball game entirely.

Well, I will keep everyone updated as the development unfolds and what the outcome of the whole crisis and whether or not CR7 is truly guilty or not and what his level of involvement is.

For what I can tell those investors are not really accusing Ronaldo of fraud or scamming them, it is simply that the NFT tokens have not generated the demand that they expected and lost money because of them, if my interpretation is correct then they have no grounds at all to sue him, as any investment regardless of its nature always entails a risk, and investing in an NFT is probably one of the riskiest investments anyone that is part of this market can take, so at least to me they just seem to be bitter they lost so much money and this lawsuit will eventually be dismissed.

The news is everywhere in the internet. And till now I have not really gotten the whole stuff. Is it that Crustiano Ronaldo is the founder of the NFT? I am not reall ofy familiar with this Non-Fugitive Tokens (NFT), I don't even know how to use it and I don't know much about it all because I was not interested in it. And things like this doesn't mean if the person is a hero or a legend, if Crustiano Ronaldo is found guilty of the allegations then he pay them the money and he will be punished by the law. And the only thing that can save noe is the lawyer that he will use. And this is a serious case of him.

Those weeping baby investors should just go and sit down at a quiet corner and cover their faces in shame. So, it was CR7 who made the NFTs not to fly to the moon to give them their expected cashout.  They should've known that whatever promises that are made during promotions are all marketing strategies and shouldn't be taken deeply to mean guarantee. Nothing is certain in cryptos. As a greenhorn a few years ago I bought – Centra and Electroneum (ETN), both were promoted by famous dudes and a lot of mouth watery promises were made but weren't kept. Centra later became a scam but nobody killed Floyd Mayweather for being its face. They should just let Ronaldo be. Case dismissed!

When celebrity i endorse investment opportunities, including crypto asset securities, investors should carefully research whether the investment is right for them, and they should know why the celebrity is providing that endorsement.

The stepping down of CZ does not make him totally isolated from the exchange. In addition to owning majority of the shares in the company, he will remain a source of consultation for the company. This is for the benefit of the company as well as to handle the alignment and investigation of the USA government that is coming up in the next year. As we have seen before, it is more of a money game, they want a share of his profits.

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.

Cristiano Ronaldo has been fined one billion dollars not only for his nft fail but he must have other reasons for this legal penalty. The reason for this case is that Cristiano Ronaldo is the special ambassador of the Binance Centralized Exchange. Had CZ not changed ownership of Binance Exchange, Binance Exchange would have suffered even greater losses. However, the scope of this case of Cristiano Ronaldo cannot be estimated so far, but his case will be heard soon.

It's funny to see these things, simply because stubborn people like to blame and criticize a certain tool without looking at themselves as the cause of all the problems. Yes, maybe a new field cannot avoid ignorant judgment, people like to conclude that that field is the cause of scams, or other negative things,... and when there is Some influential person involved, they like to exaggerate the story more. Why don't they sue the US government over the management of dollars, which I use more than anything else we know of that has material value? So the current CR7 problem will not have much effect on this market or CR7 himself.

This is one of the risks when you are a celebrity endorser, especially in the crypto and NFT space; you will be blamed if the project fails. In other words, you're implicated. These investors may likely be unaware of the volatile nature of the market and haven't even thought through their decisions. Projects like these should provide accurate information and not make promises that cannot be fulfilled.
In the case of Ronaldo, he is protected if he is just a promoter with a disclaimer however, if he has a deep connection to this project, that poses a significant challenge for him.

its funny as hell when you think about it, these people that bought christiano ronaldo NFT is expecting to make some good money out of the NFT thinking they are investing, while we all know that its just a digital arts, seriously does the word NFT in some of people minds synonym to the words investment because I can't see why a digital art, basically just a photo of christiano ronaldo could become an investment.
if they want to invest they shouldn't come into NFT in the first place, those NFT that sells for hefty amount back in the past were the overly inflated NFT that has imaginary value, they are all based on auction, if someone wanted to buy an NFT for 1 million they definitely could but whether its even gonna sell for 1k in next auction thats still a question meanwhile these people suing so much amount of money for the mistake they themselves created, i wonder if they also invested in stock when stock price plummeting they'd also sue.

Believe me, court will not care about that. Those stupid NFT buyers should have known about the risk to buy NFT asset. They were getting FOMO and they lost their brain caused by FOMO. It was so stupid when they have decided to take the risk by buying ronaldo's NFT but it was dumped so hard. Ronaldo was not making mistake here but it's pure the stupidity from the NFT buyers who didn't even know the risk before try to buy the asset. Were they expecting their NFT to increase a thousand times?

Those stupid NFT buyers shall try to use their mind better. Their allegations toward ronaldo were really stupid. The court will not even try to take a look at that allegation.
This is why DYOR was a must to avoid more people become so stupid coz they were investing their money on the risky asset. There may be another stupid investor to appear. Spending 77 bucks and demanding 1 billion. 

Im sure court is going to laugh.

i think this topic was already opened before but to answer this I really hope that ronaldo wins the case celebrities and public figures do not force anyone to buy or invest on whatever they are advertising

as consumers and fans, we still owe it to ourselves to research thoroughly first before making financial decisions i don’t know what grounds they are suing him on but it seems ridiculous to me

we don't know the real motive of the person filing the lawsuit because in my opinion, this type of case would need a lot of documentary requirements or evidence to finally claim what they want here. it can very well attracting attention from the community so he can sell the assets to a very good price. who knows?
but i don't think this will push thru especially if he has no solid proof of his claims. remember the xrp sec lawsuit alone took years and years, and yet, they couldn't give a clear picture of what is really happening behind those hearings.

I want to believe Ronaldo does not know enough about this space to lead a token into the market and allow some people to mess it up. Timing is also important, if you get into this space when the bull market is ripe, your coin might only join the coins going down in the bear market. I also feel 1 billion is over valuation for any NFTs project, then they cant really proof the use case of the token, it is just hype and they wanted to use Ronaldo and Binance to ride the hype. It might be disspointing that the coin might do well soon,There are chances big percentage of the coin might have been bought back like Elon Musk did with the doge they can start pumping hard very soon.

Taking such baseless moves as an investors is likely due to igborants and greed, because none is expected to take NFT investment for long term investment,  but in this case, the NFT CR7 promoted made a promise of reaching a certain amount in value when launched, reason why some gullible investors falled for that trick, but then also the project never even get close to the speculated price but rather it fall back to below bought price which is what triggered the investors anger.

But sure if the player role is just advertisement and he has a disclaimer then he may be safe after a long period of legal tussles, but if he is member of the team or afffiluated to the prihect beyong just promotion, then there will be more for him innthe comming days when the trials will fully start.

As of the last time I read about this and when the trend was going on all I could see from the NFT and C7 stuff is just promotion and nothing more than that, unless he don't have some sort of declaimer which is being issue on his official adverts like which ever project he is promoting something like "I'm only promoting this project or I'm just an ambassador of the project I don't have any thing associated with it neither I'm I part of the team" if he have such declaimer then he is safe but if he don't then their is no way he can be able to got free from such case by angry investors. 
 
But on a serious note, what was this Investors even expecting? The thing there was, that you buy when it started and sell when you see the trend going more up. That has been the Altcoin-Way of Life. If the trend dies off, you will completely lose it almost all.

The altcoins market have witnessed alot of hype, wave and different trends and one of the popular among those trends in the last year is the Non-fugitive tokens (NFTs), which promises to give content creators the right of the owner of their work on the blockchain which right is transferable, this hyp created al9t of noise within and outside the cryptocurrency communitie.

But also, just like every ofher hypes, that have happened in the market,  there have been alot of failures, exit scams and alot of ofher unhealthy situations that have lead to investors lost of money, and at this point any NFTs that want to gain promotion and visibility must first ascribe to a popular figure and this time, the Ai Baser former Manchester united player and world football legends, Cristiano Ronaldo, have been cught up in the web of crisis as the NFT he promoted to investors have failed to attain success and those aggrieved investors have approach the xourt and decided to get the player sued for promoting what they call investment failure.

This lead me to ask the question of that the extent of Crustiano Ronaldo involvement un the NFT project, us he a part of the Directors or he just promited the project.

But then also whichever ways, i hope cristiano Renaldo is having a good laywer to stand in for him.

What are you take in all of this situation.