NFL Allows Teams Limited Sponsorship From Blockchain Companies

The National Football League (NFL) has allowed teams to seek sponsors in the blockchain industry, but kept restrictions on cryptocurrencies. The news was reported by CNBC.

In 2021 the organization banned clubs from entering advertising contracts and promoting any goods and services related to blockchain technology and digital assets.

In a memo obtained by the publication, the NFL said that it had decided to allow “advertising relationships without excessive risk from the regulator or the brand” after completing an assessment of the technology.

The updated rules exclude stadium advertising and maintain restrictions for certain assets, including fan tokens.

“Clubs are still forbidden from directly promoting cryptocurrencies,” the document states.

The NFL’s head of consumer products Joe Rudzhero clarified that the duration of teams’ partnerships with blockchain companies should not exceed three years. In his words, this will “provide long-term flexibility.”

The league also granted clubs limited NFT capabilities. Teams were allowed to accept advertising, but without using club logos. However the NFL forbade them from “participating in licensing or sponsorship agreements” for NFTs and sector companies.

In February, during the NFL’s championship game, crypto companies Coinbase, FTX and Crypto.com displayed a record amount of advertising.