NFL reportedly bans teams from crypto advertisements and NFTS sales. According to reports, the NFL is restricting cryptocurrency and NFTs until it develops a strategy for “sports digital trading cards and art”.
The US National Football League (NFL) has reportedly prohibited sponsorships and advertisements promoting crypto-related products and services. As well as the sale of nonfungible tokens (NFT).
The Athletic reports that the NFL has barred the sale of sponsorships to cryptocurrency trading firms and NFTs. Until it develops a strategy for digital sports trading cards and artwork.
NFL has ruled out creating or selling team NFTs
An unknown NFL member familiar with the matter shared the new instructions:
“NFL has banned clubs from selling or allowing any advertising for cryptocurrency sales, initial coin offerings, or any other form of cryptos sale within club-controlled media. Unless specifically permitted by this policy”.
In contrast to mainstream soccer clubs like PSV Eindhoven, Manchester City and Arsenal, as well as the National Basketball Association. The NFL does not plan to create or sell team-branded tokens at least for the time being.
NFL officials reportedly said teams would only be able to have sponsorship discussions about crypto-related “investment counselling and or fund management services” in case their advertising sponsorship rights are bounded to promoting the company’s corporate brands.
Sports stars show interest in crypto investments
Among other sports stars, Lionel Messi, Naomi Osaka and others have expressed interest in crypto investments. On July 15, NFL star Saquon Barkley has spoken up his mind in regards to converting his endorsement payments into BTC.
Inflation is one of the causes why we cannot accumulate wealth, Barkley stated. “For that reason, I will be taking my money in bitcoin”, he elaborated.