NFL reportedly bans teams from crypto advertisements and NFT sales
The NFL has reportedly restricted cryptocurrency and NFTs until the league establishes a strategy “for sports digital trading cards and art.”
The United States National Football League (NFL) has reportedly barred all teams and members from crypto-related sponsorships and advertisements, as well as nonfungible token (NFT) sales.
According to a report by The Athletic, the NFL has restricted the sale of sponsorships to cryptocurrency trading firms and NFTs until the league establishes a strategy “for sports digital trading cards and art.” The new guidelines were shared by an anonymous NFL member familiar with the matter:
“Clubs are prohibited from selling, or otherwise allowing within club controlled media, advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales or any other media category as it relates to blockchain, digital asset or as blockchain company, except as outlined in this policy.”
Going against the NFT and token sales trends from mainstream soccer teams such as PSV Eindhoven, Manchester City and Arsenal, as well as the National Basketball Association, the NFL has ruled out creating or selling team NFTs, at least for now.
The NFL official reportedly said that teams would only be allowed to discuss sponsorship deals with crypto-related “investment advisory and or fund management services” if their advertising sponsorship rights are limited to promoting the company’s corporate brands.
The NFL did not immediately respond to Cointelegraph’s request for comment.
Related: NFL’s Saquon Barkley converting endorsements to BTC to create ‘generational wealth’
Legendary footballer Lionel Messi, tennis star Naomi Osaka and others sports stars have previously shown interest in crypto investments. On July 15, NFL star Saquon Barkley shared his intent to convert his endorsement payments into Bitcoin (BTC).
Barkley cited inflation as one of the main reasons why one cannot save wealth. “That’s why I am going to be taking my marketing money in Bitcoin,” he said.