US NFL Banned Clubs From Partnering With Cryptocurrency Firms And Selling NFTs

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The American National Football League has banned its clubs from entering into contracts with cryptocurrency companies and exchanges, advertising cryptoassets and ICOs, and selling collectible tokens.

Cryptocurrencies have been particularly active in the sports industry during the coronavirus pandemic, which has plummeted revenues in this area. Sponsorship contracts with sports clubs have expanded the capabilities of cryptocurrency firms, increasing their visibility and popularity. Partnerships with cryptocurrency and blockchain companies create additional income opportunities for both sports teams and individual players.

While many sports leagues are partnering with cryptocurrency companies to create non-fungible tokens and exclusive sponsorship deals, the National Football League (NFL) has been wary of cryptocurrencies. About it
reported sports edition of The Athletic.

“Clubs are prohibited from selling and promoting cryptocurrencies, ICOs and any other information related to blockchain and digital assets,” the NFL said.

The NFL’s stance on cryptocurrencies is not surprising given that the league has previously banned advertising of gambling and alcohol. In 2018, the NFL became more loyal to these “taboo” industries. Therefore, it is entirely possible that the NFL will change attitudes towards the cryptocurrency industry in the future.

Several years ago, English football club West Ham United partnered with blockchain-based Socios.com platform to launch fan tokens. In addition, FC Barcelona started selling its own Barca Fan Tokens (BAR) last year on Socios and Chiliz platforms.

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