The NFL Halts All NFT And Crypto Activity In The League

2021-09-03 21:21:00

The National Football League (NFL) imposes temporary halts anything that is in relation with non-fungible tokens (NFTs) and crypto. More specifically, the NFL outright bans anything from the crypto scene. From buying coins, up to crypto advertisements, coin offerings and anything that relates to blockchain in general. In addition, all teams have a halt on purchasing and selling NFTs as well.

This decision is a result of the NFL’s current efforts to come up with a plan to utilize on digital sports trading cards and digital art. As a result, it is quite clear that the NFL wishes to have direct involvement in the matter. Specifically, in the creating and distributing of any potential digital assets in the league. Hence, such cautious approach is nothing new for the League. Being that the main goal is not to allow the NFTs and crypto ‘flood’ that is currently ongoing in the NBA.

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.NFL Team Official

The only exception of these NFL imposed crypto and NFTs halts is FTX. The reason for that is that FTX falls under the category of companies that meet certain NFL guidelines. Being that the crypto exchange big-dogs meet the standard enough to get by. The main reason for that, are the lucrative deals that FTX has with both from NFL and the NBA.

In fact, FTX is a recent partner of the Miami Heat. Specifically, forging a 19 year, 135m worth partnership. Moreover, they are one of Tom Brady’s official sponsors, and spent 210m to rename eSports Team SoloMid into Team SoloMid FTX.

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.NFL Team Official

Consequently, for the time being all we can do is wait see what plan will the League present. And how long will it take before the NFL  lifts the temporary ban.

 

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1 Response
  1. zovrelioptor

    There are some attention-grabbing closing dates in this article however I don’t know if I see all of them center to heart. There is some validity however I will take maintain opinion till I look into it further. Good article , thanks and we want more! Added to FeedBurner as well

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