The NFL will also allow teams to advertise NFTs.
In an internal memo viewed by CNBC, the NFL says it will permit “promotional relationships without undertaking excessive regulator or brand risk,” which won’t include stadium signage. It also maintains that “clubs will continue to be prohibited from directly promoting cryptocurrency.”Sponsorships between teams and blockchain companies can only last a maximum of three years for the sake of “flexibility,” Joe Ruggiero, the NFL’s head of consumer products, said in a statement to CNBC.
While the rule change also lets teams advertise NFTs and the companies behind them, it won’t allow the use of official logos and other markings in any of the ads. It also blocks teams from “engaging in product licensing arrangements or sponsorships for NFTs or NFT companies.” Itallow the use of logos and direct sponsorships, however, if they’re “in connection with League-level NFT partnerships.” Last year, the, creating an entire market of NFTs made up of memorable moments from past games.
The NFL’s hesitancy towards backing specific cryptocurrencies and fan tokens is understandable. In December, the UK’s advertising regulator
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