• Cristiano Ronaldo NFT trading card to be auctioned for $1 million

  • International auction house Bonhams announced today that it is auctioning Cristiano Ronaldo’s Non-Forgible Token (NFT) trading card for a whopping $1 million.

    The unique NFT trading card, minted by video game platform Sorare, will begin on November 1 and end on November 11. The auction house notes that the NFT trading card can be purchased through the Ether network.

    Speaking about the development, Nima Sagharchi, head of digital art at Bonhams, said.

    “The Ronaldo card sale was a first for us, but as we expand our activity in the NFT and digital art sector, this is an area we hope to grow in the future.”

    Sagharchi noted that Cristiano Ronaldo is a five-time Ballon d’Or winner and one of the greatest footballers of all time, and because of his stature, his trading card is a special and most attractive one.

    “The Ronaldo card on offer is unique and, as one of the greatest players of the modern era, arguably the most popular card in the game,” he said.

    NFTs are tokenized assets used to represent digital ownership of something unique. An object is said to be fungible when it can be replaced or exchanged with another object, while a non-fungible object is one that cannot be replaced or exchanged with another object due to its uniqueness and rarity.

    The NFT industry has exploded in recent times, with millions of dollars flowing into the market. According to DappRadar, NFT sales reached $1.2 billion in the third quarter of 2021, with some of the top NFT collectibles trading at more than three times that amount.

    Meanwhile, in August, payment processor Visa joined the NFT craze, acquiring the pixelated artwork known as the CryptoPunk #7610 series for $150,000 in Ether.

    Visa’s head of cryptocurrency, Cuy Sheffield, noted that the move gives the company “first-hand knowledge” which in turn will allow it to support its customers as they enter the NFT space.

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