Cryptocurrency News

NFL Teams Barred From Crypto Sponsorship Deals and Launch of NFT Collections

NFTs are grabbing all headlines in the world of crypto. The world of sports has not been left untouched by it.

As per the latest news, the NFL has stopped all its sponsorships of crypto trading platforms. Further, the NFL has also slowed down in its support for NFTs, which creates personal collectibles for their fans and the general public. 

As per the leading tabloids, the restrictions are intact whilst NFL is strategizing on how best to move forward in the market. 

There are a  number of reasons why the sporting community is attracted to the world of digital currencies. Fan engagement tokens have become a promising source of revenue for the teams. Trading cards are now visible in digitized formats via NFTs.

According to the reports, NLF is probably wary about these new forms of collaborations and they are also adopting a measured approach when it comes to alcohol or gambling endorsements. 

As reported earlier, the NBA had previously opened doors to NFTs by launching Top Shot, which enables fans to revisit the iconic basketball moments captured digitally. 

However, a dizzying range of top-scorer football teams has already launched fan tokens. Teams involved in the same are Arsenal, Paris Saint-Germain, and Barcelona.

As we already know, Lionel Messi has shifted to Barcelona from Paris Saint-Germain (PSG). The reason for the same is financial troubles with Paris Saint-Germain. The deal with PSG also includes fan tokens of the club.

A number of sports stars have expressed their fascination for crypto. Some have even chosen to convert half of their salaries in the form of crypto.

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