According to a recent report, the National Football League (NFL) advised teams that they could not, at least for now, sell non-fungible tokens (NFTs) and sponsorships to digital currency companies. Various club sources, who wished to remain anonymous, said that advertisements for certain crypto assets were mentioned along with initial coin offerings (ICOs).

Anonymous Sources Inform the NFL of its New Policy

On Friday, The Athletic reported that sources familiar with the matter detail that the NFL is barring teams from participating in certain crypto ventures. This alleged NFL ban comes after a large number of crypto, NFT and blockchain endorsements by a variety of stars athletes and teams.

For instance, Tom Brady has shown his support for bitcoin with laser eyes, but he’s also started his own NFT company called Autograph. Brady and his Brazilian supermodel wife Gisele Bundchen also signed a long-term partnership with FTX.

But the seven-time Super Bowl champ isn’t the only one who is dipping into crypto economics. The world’s largest cryptocurrency asset manager, Grayscale Investments, has partnered with the New York Giants. Trevor Lawrence, the NFL’s No. In May, the 1st Draft Pick, Trevor Lawrence, put his signing bonus in crypto. NFL player and offensive lineman Russell Okung gets half of his salary in bitcoin (BTC).

Kansas City quarterback Patrick Mahomes released a collection of NFTs on Makersplace on March 17th. Rob Gronkowski (Buccaneers player) also sold an NFT collection. Additionally, the National Basketball Association (NBA), and MLB have also gotten involved with the non-fungible token and crypto asset space.

“Multiple source”: The NFL informed The Athletic’s Daniel Kaplan that the NFL cannot provide any information in this area at the moment. The following was read by an anonymous NFL team official:

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’s New Policy Does Allow Specific Crypto Partnerships

The report doesn’t disclose whether any adverse repercussions were felt by people who have previously participated in crypto firms, or if they have been granted immunity. The NFL’s actions may stop other teams and clubs from following their lead if the report is true.

The NFL’s new policy allows sponsorships of firms “whose primary business involves providing investment advisory or fund management services in relation to cryptocurrency,” an anonymous source said.

What do you think about the sources that say the NFL is barring teams from participating in certain cryptocurrency affairs and deals? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons, NFL,

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