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According to reports, the NFL has outlawed bitcoin and NFTs until the league develops a strategy “for sports digital trading cards and art.”
The National Football League (NFL) of the United States has reportedly forbidden all clubs and members from participating in crypto-related sponsorships and promotions, as well as selling nonfungible tokens (NFTs).
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.”
In contrast to prominent 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 the time being.
According to the NFL official, teams would be permitted to consider sponsorship arrangements with crypto-related “investment advising and or fund management services” if their advertising sponsorship rights are confined to promoting the company’s corporate branding.
Lionel Messi, Naomi Osaka, and other sports stars have previously expressed interest in cryptocurrency investments. On July 15, NFL running back Saquon Barkley announced his intention to convert his endorsement income to Bitcoin (BTC).
Inflation, according to Barkley, is one of the primary reasons why one cannot save wealth. “That is why I am going to accept my marketing funds in Bitcoin,” he explained.