NFL, the National Football League of the US, has reportedly prohibited its teams and team players from indulging in any crypto-related activity. This includes – cryptocurrency sponsorships and the Non-fungible Token (NFT) market. The American Football organization seems very serious about separating its clubs from the world of digital assets.
NFL vs. NFT
The NFT market is booming globally. It is revolutionizing the art and entertainment industry and would greatly benefit sports too. This is especially true during scenarios of complete lockdown (as in the case of the Covid-19 pandemic). NFTs can be a valuable source of income during such testing times.
The concept of NFL NFTs could be lucrative. Sport fans are known to buy sport merchandise and digital assets should be no different. At the moment it is unclear whether NFL is entirely anti-crypto, or if it is waiting for more clarity on the NFT/crypto mechanics.
Despite NFL’s stance on the issue, many sport players have come out in support of NFTs and cryptocurrency. Malik Monk, from the Lakers, recently tweeted about his purchase of an NFT from the Top Dog Beach Club Collection. He also expressed his enthusiasm to buy more NFTs in the future.
Another sport star, Tom Brady, went beyond buying crypto assets by issuing his own brand of NFTs. Since he’s retired, the NFL ban does not affect him.
Growth of NFTs
According to Justin Sun, the founder of Tron, conversion of art into NFTs started in 2017 and their value will only grow in time as the crypto industry grows.