Leading cryptocurrency firm Binance has partnered with TikTok star Khaby Lame, who currently has north of 142 million followers on the platform, to promote all things Web3 – and football icon Cristiano Ronaldo specifically to “change the game” of NFTs.
Lame joins the outfit as a global brand ambassador and recently overtook Charli D’Amelio, to be the most-followed individual on TikTok.
A major area for Binance to tackle is the understanding and adoption of crypto and web3 overall. With Lame, who has a signature style of simplifying the seemingly complicated, they feel they have sourced a means to do that competently.
The social media hitmaker will also partner with Binance on signature NFT collections, increasing the potential scope of their joint endeavor.
“I’ve been curious about Web3 for some time, and jumped at the chance to partner with a leader like Binance because it aligns perfectly with what I usually do: make complex stuff easy and fun for everyone!” said Khaby Lame.
If there was a time to connect with someone like Lame, it’s now. $2 trillion has been wiped off the crypto market so far since the infamous crash, with TerraUSD
“Khaby has become a cultural icon and one of the most entertaining creators globally. We love his charm and sense of humor, and think it will bring relevance and relatability as we scale Web3 adoption,” said James Rothwell, Binance Global Vice President of Marketing.
He added: “With so much nuance around Web3 and misinformation in the world, it was a perfect match to have Khaby on board to help debunk some of the myths around this space.”
With Ronaldo, Binance’s team announced an exclusive multi-year partnership that will see the Portuguese star launch one-of-a-kind NFT collections that Binance users will be able to purchase.
“My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”
Areas of understanding
Currency conversion is an area that has long been thought of as needing a level of explanation and further understanding.
Users of fiat currency frequently lament the issue of how their “real world” money can convert into crypto and what their funds amount to. Specifically on purchases and transactions. Sellers and their marketplaces are a key staple for wider adoption of crypto as they represent an area that has widespread interaction with the general populous.
The friction of seeing pricing outside of one’s local currency dissuades people from engaging in business with many of the sellers. After all, pricing serves as a medium to deliver a signal giving more information about a product and service, and without knowing the value associated with a foreign currency, one simply cannot infer levels of accurate information.
A new entrant into web3 currency conversion, CoinXC, seeks to solve this problem through a currency exchange rate image API. The API allows one to embed an image into a sales forum or blog post that will automatically be updated with the conversion rate.
Items for sale on a forum for example can have GBP, EUR, BTC
Elements like conversion technology and market-wide adoption will be key for media entities and marketplaces to adopt cryptocurrency as a more frequent mode of payment. More attention has to be paid to advancing that understanding if web3 is to survive and thrive.