Cristiano Ronaldo get 1 billion dollars lawsuit for his NFT failure

[Wiwo]

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.

[Orpichukwu]

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.

[Wiwo]

 
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.

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.

[royalfestus]

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.

[AmoreJaz]

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.

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.

[btc78]

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

[X-ray]

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.

[shinratensei_]

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.

[Text]

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.

[bluebit25]

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.

[2Pizza410000BTC]

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.

[batang_bitcoin]

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.

[Makus]

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?

[FinneysTrueVision]

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.

[shawonngp]

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?

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.

[Kelward]

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

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.

[Belarge]

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.

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.

[Knight Hider]

we don't know the real motive of the person filing the lawsuit

Money, obviously.

[kentrolla]

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.

[Jegileman]

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.

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.