NFL Says No NFTs and Crypto Sponsorships For Teams

According to a recent report, the National Football League (NFL) has banned teams from accepting cryptocurrency sponsors.

NFL Says No NFTs and Crypto Sponsorships For Teams
NFL Ball | Image: Deadline

Today, the NFL announced that teams in the league have no choice for NFTs or cryptocurrency sponsorship.

According to a report front the Athletic, the league has rules that limit what teams can use crypto for. The NFL board said that teams can't sell non-fungible tokens (NFTs) or accept any crypto sponsorships from trading firms until further notice.

Based on the new rules, NFL partnerships with companies directly tied to crypto such as exchanges go against the new guidelines. However, reports say that the rules exclude some major companies in the crypto industry.

While the rules prohibit teams from collaborating with crypto firms or offer NFTs, individuals can. Many players are already on board. This includes Sean Culkin, Trevor Lawrence, and Russell Okung.

Speaking of Lawrence, he had all of his signing bonuses, above $22 million, paid out in Bitcoin (BTC).