Binance gets Ronaldo and TikToker Khaby as Brand Ambassadors
For the purpose of increasing the adoption of Web3, Binance has signed an agreement with Khaby Lame, TikTok's most popular influencer. Khaby will act as a global ambassador for the crypto trading platform, helping to dispel myths about cryptocurrencies and the blockchain space. Khaby Lame has made a name for himself on TikTok, gaining 142 million followers with his videos, taunting content creators who overcomplicate things.
In a statement, the TikToker said he's been interested in Web3 for a while. According to him, a partnership with Binance "fits perfectly" with what he usually does, making complicated things easier and more fun.
"I think of my followers as family and am always looking for new challenges and interesting content to share," he said.
In addition to creating content and explaining the myths surrounding Web3, he will also create NFT collections using Binance to increase fan engagement. As an explanation of the partnership, the Binance CEO explained on Twitter that Khaby: "Is the most watched creator on TikTok. And he's good at explaining things in a simple way. Perfect for crypto adoption."
Khaby Lame's inclusion in Binance is the result of the company's efforts to work with big celebrities. Last week, the crypto exchange teamed up with football star Cristiano Ronaldo - to introduce its fans to the Web3 space via NFTs. The deal is an exclusive partnership in which Ronaldo will work with Binance to create NFTs.
These digital collections will be sold exclusively on the Binance NFT platform and will allow fans to experience exclusive encounters with the football star. Cristiano Ronaldo explained that he values his relationships with fans very much, and the idea of NFTs through which he can offer them new experiences is something he has been thinking about for a long time.
CZ, CEO and founder of Binance, praised Ronaldo's achievements in football and noted that the sportsman "has gone beyond sports to become an idol in many industries". "He has amassed one of the most dedicated fan bases in the world through his authenticity, talent and charity work," CZ said.
In March, Ronaldo received crypto tokens for his achievements in the sport. The football star received JUV digital assets, the official Juventus F.C. fan token, for every senior career goal he scored. Despite the bear market, Binance's CEO showed positivity in early June. Confidently, Zhao noted that this is his third crypto winter and Binance's second encounter with this type of market situation, meaning the team knows how to navigate an unfavorable market. Aside from that, he also said they will use this as an opportunity to hire top talent that is available during this time.
I'm not a big fan but I do like Ronaldo so it was good news when I heard about Binance signing him, but now having also signed Khaby whose videos I'm watching sometimes for a quick dose of laughter, makes me wonder, was this the plan to get the two? Or WHO will be the next big celebrity coming to Binance?
These are much-needed moves to try and bring more people to this space as the NFT market has entered a downward trend after sales volume and prices have fallen in recent weeks. On the world's largest NFT market, OpenSea, sales volume has fallen 75% since May and reached its lowest level since July 2021. Source Dune Analytics.
Data from nonfungible.com shows that the NFT ecosystem saw the highest daily sales of 224,768 NFTs as of September 24, 2021, worth $78.3 million. However, the highest dollar trading volume of NFTs occurred on May 1, 2022, when 118,577 NFTs were sold in one day for $780.4 million. NFT sales totaled $40 billion last year, and total sales in 2022 have already exceeded $42 billion. January and February sales account for more than half of total 2022 sales so far.
Some of the key factors negatively influencing the hype around NFTs are:
-Eth price decline -lack of demand in the secondary market -unrealistic huge gas taxes
As a result, over the past three months, the market capitalization of NFTs has suffered a decline of nearly 40%, while losing over 66% of trading volume, data from NFTGo.
These are difficult times for the crypto and NFT space, but not only that, these are difficult times for the entire world with galloping inflation and prices rising fast, food shortages, and the war going on in Ukraine. Sometimes it feels like life as we know it is changing fast, and not always for the better.
The above screenshot is taken from @heartbeatonhive's Alive Tribe curation post which you can find here! Thank you @bradleyarrow !
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