No NFTs For The NFL...Yet

Roger Goodell & Co. have thrown a bucket of ice water on the piping hot NFT market. 

While soccer clubs across the pond and the NBA embraced cryptocurrency and NFT sponsorships, the NFL is not interested...yet. 

The league issued a restriction on NFTs and cryptocurrency until it establishes its own strategy for digital trading cards and art.

For those of us who are still confused about the NFT world, here's a quick explanation:

According to The Verge, NFTs, or Non-Fungible Tokens, are unique pieces of digital art supported by a blockchain, most notably, Ethereum.  

All 32 NFL teams and members are barred from forming sponsorships with exclusive cryptocurrency trading firms.

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.

However, this barring does not prevent teams from collaborating with crypto adjacent companies. 

This includes investment advisory or fund management services. 

Individual stars including Tom Brady & Trevor Lawrence have signed sponsorship deals with FTX, a cryptocurrency exchange app whose marketing department is currently going bonkers. 

They've also signed a deal with NBA superstar Steph Curry. 

In a tweet earlier this week, Cowboys' QB Dak Prescott announced that he will be helping Ehternity launch a new NFT trading technology, which dropped on September 9th. 

This late to the party behaviour is not uncommon for the NFL. 

They were also one of the last major American sports leagues to allow gambling and liquor sponsorships. 

But with the popularity of NFTs and the potential to roll in some serious profit, it's only a matter of time.

Photo by David McBee from Pexels