Cryptocurrency News

NFL asks teams to hold off on crypto and NFT partnerships

  • The NFL has ordered the teams to hold off on partnering with crypto trading firms, for now,
  • The league had also asked the teams not to sell NFTs to their fans at the moment as it studies the digital market
  • Some leagues such as the NBA have been successful in adopting NFTs

The NFL had asked teams to hold off on partnering with cryptocurrency trading firms and other related entities.

NFL teams are not allowed to partner with crypto entities for now

The NFL has informed teams that they should hold off on partnering with cryptocurrency trading firms. Sources close to the matter revealed this to The Athletic, stating that the league is currently researching digital currencies.

Furthermore, the sources stated that the league had told the teams not to sell non-fungible tokens (NFTs). The NFL said, “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.”

The league will allow teams to partner with companies that are not involved in trading and asset managers that sell funds to track the digital currency markets.

NFL teams are not allowed to sell NFTs

NFTs have become quite popular within the sporting world. However, the NFL has banned teams from selling NFTs to their fans for the time being. The league allows 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.”

Other leagues such as the NBA have gained massive success from the adoption of NFTs.

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