The NFL now allows clubs to pursue blockchain sponsors but prohibiting particular crypto and fan token arrangements.
The National Football League has announced that clubs would be able to seek sponsorships from blockchain firms. According to CNBC, it will still restrict them from advertising certain cryptocurrencies and fan tokens. This overturns the NFL's prior decision to prohibit clubs from accepting bitcoin sponsorships entirely.
According to an internal document obtained by CNBC, the NFL would allow "promotional ties without assuming significant regulator or brand risk," which will not include stadium signage. It also states that "clubs would remain barred from directly promoting cryptocurrencies."
Sponsorships between teams and blockchain firms are limited to three years in order to maintain "flexibility," according to Joe Ruggiero, the NFL's president of consumer marketing, in a statement to CNBC. This will discourage long-term agreements, such as Crypto.com's $700 million 20-year pact with the Los Angeles Staples Center, now known as the CRYPTO.COM Arena. He also informed the publication that the league is thinking about selling its blockchain rights to a certain entity.
