The Athletic reported that the National Football League (NFL) has announced that for now, teams will not be allowed to sign sponsorship deals with cryptocurrency trading firms or sell branded non-fungible tokens (NFTs). The reasoning is likely that the NFL is developing a league-wide digital strategy, and deals of this nature could compete with their offering. Hence it’s hiring someone to develop a strategy for the sector.
“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 guidelines read by an unidentified team official to The Athletic reporter.
While many other leagues and clubs have adopted NFTs and other blockchain-based initiatives, we’re only aware of one NFL sponsorship. Digital currency investment firm Grayscale sponsors the NY Giants, a deal formalized before the new rule was put in place. But beyond that, not many partnerships are integrating the NFL in the blockchain space.
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