The National Football League (NFL) has started allowing teams to sign blockchain sponsorships without undertaking excessive regulator or brand risk after completing an evaluation of blockchain technology.
However, it continues to ban cryptocurrency, and fan token partnerships.
The new NFL guidelines also do not include stadium signage.
According to Joe Ruggiero, the NFL’s head of consumer products, the teams’ deals with blockchain companies will not exceed three years to ensure “flexibility for the long term”.
Ruggiero added that the NFL could also put its official blockchain rights on the marketplace.
Additionally, the revised guidelines allow teams to accept advertising for NFTs and NFT companies, albeit without using club marks and logos, unless in connection with a league NFT deal.
However, teams could not engage from ‘engaging in product licensing arrangements or sponsorships for NFTs or NFT companies (other than as permitted in connection with league-level NFT partnerships)’.
The NFL will update team owners on the changes at the league’s annual meetings, which start on 26th March.
The decision is a partial U-turn for the league’s policy prohibiting teams from signing cryptocurrency, NFT, or blockchain-related sponsorships.
With interest in NFTs seemingly showing no signs of slowing, Ruggiero revealed that the NFL would continue to evaluate its remaining restrictions on blockchain-related technologies.
