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NFL ban teams from signing Crypto deals and trading NFTs

The National Football League otherwise known as NFL has banned member teams from trading NFTs and signing sponsorship deals with crypto exchanges. Mainstream Sports news platform, The Athletic reports.

There’s been a surging bromance between Sports and cryptocurrency entities but the NFL is reluctant to give in just yet.

“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 reports, this restriction will be in place until the NFL comes up with a policy for sports digital trading cards and art. However, it does not in any way affect Tom Brady’s endorsement deal with crypto exchange FTX.

NFL

Judging by precedence, the NFL will most likely authorize teams to deal with crypto firms and trade but not without putting guidelines in place.

Another American sports entity, the National Basketball Association has explored NFTs successfully with the NBA Top Shot project and the NFL can draw inspiration from it to launch its collection if need be.

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Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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