NFL Bans Teams From Selling NFTs tokens for Digital arts & Cards

The National Football League imposed restrictions on teams to tie up any kind of partnership with digits assets trading platforms for NFTs token sale.

In the present time, NFTs platforms are  getting huge popularity and demand in the crypto market. And this market is getting a huge push because of the sports players and celebrities. We can see how the National Basketball Association (NBA) collected several millions by selling the collectibles non fungible tokens. Here the NFL is facing few problems right now over NFTs based activities. 

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Reports say,  The Athletic League imposed a temporary policy to restrict any kind of digital cards or arts. 

This temporary policy also banned NFL to go through any kind of sponsorship program of digital assets exchange related to the non fungible tokens ( NFTS) artwork deal. However there is no ban on the NFL to sell the funds with the assets management firm.

“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.”

Here clearly the League barring the NFL to work on selling the NFTs based items or token like things. Since, The Athletic already said that it is a temporary policy, there are chances that they can announce anything more on this matter to allow for some restriction or Plan for future.

One thing here worth to notice, NFTs concept made many things to get into crypto. No one earlier thought that there can be a big business through selling small clips of sports highlights.

Read also: Crypto ‘The New Shadow Bank’ : Elizabeth Warren