After NBA’s NFT Frenzy, NFL temporarily bans crypto & NFT deals

Published by
After NBA’s NFT Frenzy, NFL temporarily bans crypto & NFT deals

The National Football League, consisting of 32 teams has announced the surprising temporary halt on crypto sponsorships, as well as the sale of a team or individual non-fungible tokens (NFTs). This move has come instead of the league’s ongoing process of developing a strategy for sports digital trading cards and art.

“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,” The Athletic report stated the new guidelines, as read by a team official, who requested anonymity.

Advertisement

NFL new NFT & Crypto policies to Exempt certain organizations

However, presently NFL shall allow teams to collaborate with organizations that only hold cryptocurrency and are not associated with trading operations as of now. Furthermore, the temporary ban and excluded crypto giants, such as FTX that are allowed to continue their multi-million-deals with the league’s teams.

Additionally, the team official confirmed that the latest policy allows sponsorships with, “companies whose primary business is providing investment advisory and or fund management services in connection with cryptocurrency, provided that such advertising sponsorship rights are limited to promoting the company’s corporate brands.”

Advertisement

NBA’s NFT Obsession

NBA has been at the top searing with the hottest NFT launches. Earlier in July, NBA’s Sacramento Kings launched pilot testing for the first-ever Smart Ticket NFT Experience Pass. They revealed that this limited edition NFT ticket will come with exclusive privileges and experiences. Sacramento Kings has signed a partnership agreement with Lava and Flow, the blockchain organization that also sponsors NBA Top Shot. Furthermore, in April NBA’s the Golden State Warriors became the first major professional sports team to sell its non-fungible tokens (NFTs). The collection was popularly known as “legacy” with digital memorabilia.

Tokenizing the Sports arena has come as the ultimate mantra to making a fortune for teams and players. Recently, Football’s Lionel Messi fans went gaga over the launch of his NFT collection, named “Messiverse”. Furthermore, NBA’s LeBron James NFT was auctioned at AUD 269,000. Following the NBA star’s NFT, football megastar, Cristiano Ronaldo’s NFT was sold for $289,920.

Advertisement

Share
Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025
  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025