LockMeta
  • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFTs
    • Metaverse
    • Business
    • Policy
  • Market Cap
  • Buy Crypto
Facebook Twitter Telegram
Trending
  • Crypto.com DeFi Wallet has listed SPA, USDs and other tokens
  • The lead singer of rock band KISS: Not selling any crypto assets, full of confidence in the future
  • Indian crypto advocacy body BACC calls on NPCI to restore crypto exchange UPI services
  • Amsterdam plans to launch digital currency within next four years
  • Cross-chain oracle solution SupraOracles cooperates with NFT marketplace MADworld
  • Nearly $130 million in contracts on the entire network exploded in the past hour
  • Argent X wallet update, users need to create new wallet and transfer old wallet tokens
  • Terra Forum Researcher: Babel Finance is currently facing nine-figure losses
Sunday, June 19
LockMeta
  • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFTs
    • Metaverse
    • Business
    • Policy
  • Market Cap
  • Buy Crypto
Facebook Twitter Telegram
LockMeta
Twitter Telegram
Home»News»NFT News»NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market

NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market

NFT News September 23, 2021
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
NFL to teams: No cryptocurrency, NFT deals for now as league eyes digital market. The NFL informed teams last month they could not, for now, sell sponsorships to cryptocurrency trading firms, multiple club sources said. Teams also cannot sell non-fungible tokens (NFTs) as the league develops a strategy in the hot and cold market for sports digital trading cards and art.

The NFL informed teams last month they could not, for now, sell sponsorships to cryptocurrency trading firms, multiple club sources said. Teams also cannot sell non-fungible tokens (NFTs) as the league develops a strategy in the hot and cold market for sports digital trading cards and art.

Other leagues have opened the floodgates for digital assets, but the NFL is notoriously cautious with new commercial categories, going slowly, for example, with gambling and alcohol before relaxing its restrictions. In the case of cryptocurrency, the league will only, for the moment, allow teams to align with companies that are a step removed from the trading, the asset managers that sell funds to track the digital currency markets.

“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,” according to the new guidelines, as read by a team official, who requested anonymity. 

A blockchain is a digital ledger whose technology powers crypto and NFT sales.

The restrictions would appear to exclude some of the principal players in crypto, like FTX, a digital currency exchange endorsed by Tom Brady that has been on a bit of a sports deal binge, including finalizing a 19-year, $135 million naming rights agreement for the Miami Heat’s arena and a 10-year, $210 million agreement to switch the name of esports organization Team SoloMid to TSM FTX. 

The NFL is also ruling out, for the time being, team NFTs. The NBA has had great success with NBA Top Shot, its vault of NFTs, which are digital highlights marketed as unique to the buyer. NBA Top Shot is operated through the league, and not by teams. 

What the policy does allow, the team official said, is sponsorships with “companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, provided that such advertising sponsorship rights are limited to promoting the company’s corporate brands.”

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related News

Otherside virtual land Otherdeed #59906 was sold at 625 ETH, setting the highest transaction record in history

May 11, 2022

BAYC #17 was sold at 410 ETH, and the floor price has dropped to 106 ETH

May 11, 2022

JVR Music: Fantasy NFT has nothing to do with the company or Jay Chou

May 5, 2022

The Latest

Crypto.com DeFi Wallet has listed SPA, USDs and other tokens

June 18, 2022

The lead singer of rock band KISS: Not selling any crypto assets, full of confidence in the future

June 18, 2022

Indian crypto advocacy body BACC calls on NPCI to restore crypto exchange UPI services

June 18, 2022

Amsterdam plans to launch digital currency within next four years

June 18, 2022

Cross-chain oracle solution SupraOracles cooperates with NFT marketplace MADworld

June 18, 2022
Facebook Twitter Telegram
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Service
© 2022 LockMeta.

Type above and press Enter to search. Press Esc to cancel.