NFL Details the New Direction for NFTs and Crypto Deals as the Industry Expands

Although the NFL is expected to start accepting sponsorships from crypto exchanges soon, the Green Bay Packers aren’t expecting to host games at the FTX Field. The NFL sent a memo to its clubs this week that outlined the league’s plans to continue developing blockchain-related partnerships. The Memo Details the New Direction for NFTs in the League Clubs can enter sponsor ties with companies that use blockchains to establish exchanges and wallets from this year onwards. Additionally, teams can accept advertising from NFT companies (such as OpenSea), though they won’t be able to use their club marks and logos. As a result, the Gutter Cat Gang will have to wait to join the Jacksonville Jaguars’ Official NFT Community. The NFL’s Business Ventures Committee accepted the adjustments during a recent meeting. Shorter team contracts that end before the 2025 season are also prohibited. Joe Ruggiero, the head of consumer products for the NFL, said the league is excited about the potential of blockchain technology. However, he noted that the league is also focused on making sure that it is carefully and thoughtfully engaged in this space. How NFL Integrated NFTs Despite last year’s limitations, crypto exchanges were still able to get in front of football fans. FTX and Coinbase even stole the Super Bowl with a bounce-back QR code. The NFL still prohibits teams from directly promoting cryptocurrencies. Although the league has allowed limite...