The NFL has reportedly banned all teams and members from crypto-related sponsorships. Either advertisements, or non-fungible token (NFT) sales.
The NFL has put a hold on selling sponsorship deals to cryptocurrency trading firms. And NFTs until they can find an appropriate strategy for digital sports cards. An anonymous member familiar with this matter shared these new guidelines. In The Athletic report.
“Clubs are prohibited from selling, or otherwise allowing within club controlled media. Any advertisements for specific cryptocurrencies. Initial coin offerings, other cryptocurrency sales or any other media category. As it relates to blockchain, digital assets or as blockchain companies, except as outlined in this policy.”
Despite the growing popularity of NFTs among sports teams. Such as PSV Eindhoven, Manchester City, and Arsenal, along with professional basketball leagues like the NBA. The NFL has decided not to sell or create team specific items to represent its brand digitally.
The NFL has opened the door for teams to promote cryptocurrency. And related investment management services in return for sponsorship rights. But only if they do not include ads promoting crypto.
Football superstar Lionel Messi. And tennis champion Naomi Osaka have both shown interest in cryptocurrency investments. Saquon Barkley, an NFL player for the New York Giants. Also announced that he is considering receiving his endorsement payments in Bitcoin.
Barkley is unwilling to watch his wealth be destroyed by inflation. As such, he plans on investing in Bitcoin to make sure that doesn’t happen.
“That’s why I am going to be taking my marketing money in Bitcoin,” he said.