Cristiano Ronaldo get 1 billion dollars lawsuit for his NFT failure

[Wiwo]

What are you take in all of this situation.

When celebrity i endorses 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.

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.

[bastian466]

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?

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.

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

[gabbie2010]

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?

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.

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

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.

[Miles2006]

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.
 

[bastian466]

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?

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.

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

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.

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

[JeffBrad12]

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.
 

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.

[Wiwo]

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 no one bids, after all its art.

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.

[justdimin]

i think this topic was already opened before

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.

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

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.

[batang_bitcoin]

Seeing this news tells a lot about modern investors, they're just investing cause of the money not for the knowledge.
 

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.

[Wiwo]

Seeing this news tells a lot about modern investors, they're just investing cause of the money not for the knowledge.
 

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.

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.

[TimeTeller]

Seeing this news tells a lot about modern investors, they're just investing cause of the money not for the knowledge.
 

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.

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.

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.

[batang_bitcoin]

Seeing this news tells a lot about modern investors, they're just investing cause of the money not for the knowledge.
 

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.

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.

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.

[ryzaadit]

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.

[oktana]

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.

[Tipstar]

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.

[Silberman]

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.

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.

[Belarge]

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.

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.

[Velemir Sava]

Volatility exists since from day one in the market, the earlier they know that, the better.

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

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.

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.

[GreenStox]

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.

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?

[Tigerheart3026]

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.
 

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?