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- The National Football League (NFL) informed teams that they would not be able to sell non-fungible tokens for the time being
- Tom Brady not only has laser eyes to express his support for bitcoin but he’s also launched his own NFT company called Autograph
- On March 17th, Kansas City quarterback Patrick Mahomes posted a set of NFTs on Makersplace
According to a recent report, the National Football League (NFL) has informed clubs that they cannot sell non-fungible tokens (NFTs) or sponsorships to digital currency organizations, at least for the time being. According to unnamed club sources, advertisements for specific crypto assets were referenced alongside initial coin offers (ICOs).
The NFL’s New Policy is Revealed by Anonymous Club Sources
The Athletic reported on Friday that the NFL is prohibiting teams from participating in some crypto endeavors, citing sources familiar with the situation. The NFL’s claimed prohibition comes after a slew of celebrity athletes and teams endorsed blockchain, NFT, and cryptocurrencies.
Tom Brady, for example, has not only shown his support for bitcoin with laser eyes, but he has also founded his own NFT company, Autograph. Brady and his Brazilian supermodel wife Gisele Bündchen struck a long-term deal with FTX as well.
But the seven-time Super Bowl winner isn’t the only one who has dabbled in the cryptocurrency market. Grayscale Investments, the world’s largest bitcoin asset manager, has collaborated with the New York Giants. Trevor Lawrence, the first overall pick in the NFL draught, converted his signing bonus to cryptocurrency in May. Russell Okung, an offensive lineman in the NFL, receives half of his salary in bitcoin (BTC).
On March 17, Kansas City quarterback Patrick Mahomes posted a set of NFTs on Makersplace. Rob Gronk Gronkowski, a member of the Tampa Bay Buccaneers, also sold an NFT collection. Furthermore, the Major League Baseball (MLB) and the National Basketball Association (NBA) have both entered the crypto asset and non-fungible token space.
Multiple NFL club sources told The Athletic’s Daniel Kaplan that teams are now unable to donate to this space. The following was read by an anonymous NFL team official: Except as outlined in this policy, clubs are prohibited from selling or otherwise allowing advertisements for specific cryptocurrencies, initial coin offerings, other cryptocurrency sales, or any other media category as it relates to blockchain, digital asset, or as a blockchain company within club controlled media.
Specific crypto partnerships are permitted under the NFL’s new policy
The report does not say whether people who have previously worked with crypto businesses have suffered any bad consequences or if they have been granted immunity for the time being. If the claim is accurate, the NFL’s move might deter players and teams from following in the footsteps of other organisations and players.
According to the anonymous source, the NFL’s alleged new policy allows sponsorships with companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, as long as the advertising sponsorship rights are limited to promoting the company’s corporate brands.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
