NFL Teams Gear Up For Blockchain Sponsorship Deals As Rights Go On Sale | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.00-0.43%
  • ethereum
    Ethereum(ETH)
    $0.000.870%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.04%
  • binancecoin
    BNB(BNB)
    $0.001.63%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.02%
  • ripple
    XRP(XRP)
    $0.00-0.68%
  • binance-usd
    Binance USD(BUSD)
    $0.00-0.08%
  • cardano
    Cardano(ADA)
    $0.000.160%
  • dogecoin
    Dogecoin(DOGE)
    $0.002.25%
  • matic-network
    Polygon(MATIC)
    $0.003.93%
  • okb
    OKB(OKB)
    $0.004.76%
  • solana
    Solana(SOL)
    $0.000.810%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.000.900%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.0013.78%
  • polkadot
    Polkadot(DOT)
    $0.002.20%
  • litecoin
    Litecoin(LTC)
    $0.000.390%
  • avalanche-2
    Avalanche(AVAX)
    $0.000.670%
  • tron
    TRON(TRX)
    $0.00-0.90%
View All
Coinparative
Home News Crypto News

NFL Teams Gear Up For Blockchain Sponsorship Deals As Rights Go On Sale

April 1, 2022
in Crypto News
240 12
A A
0
NFL Teams Gear Up For Blockchain Sponsorship Deals As Rights Go On Sale
Share on FacebookShare on Twitter

The NFL made some significant and groundbreaking announcements on Monday. Along with revealing that Detroit would host the 2024 draft, the NFL also announced that teams would be able to seek out blockchain partnerships with platforms such as Coinbase and FTX. 

The introduction of blockchain sponsorships is expected to increase the sponsorship revenue over the next season significantly. 

Some Huge Announcements 

With Detroit revealed as the host of the 2024 draft, the NFL moved on to other significant announcements during its annual meetings, generating a considerable amount of buzz, with the league announcing that teams are now permitted to partner with blockchain platforms. The NFT had generated a staggering sponsorship revenue of nearly $2 billion for the 2021 season, and with blockchain deals now on the table, there could be a significant increase in the amount of sponsorship revenue for the following season. 

Last week, the league had announced that it was loosening its rules and giving teams some leeway, allowing them to deal and strike sponsorships with companies working with blockchain technologies. 

The Door Is Ajar, Not Completely Open 

While allowing teams to tie up with companies working with blockchain technology is a big step, the teams are still banned from cryptocurrency sponsorships. Speaking about the decisions, Rennie Anderson, NFL Chief Revenue Officer, stated, 

“This is a little bit of what we can learn from the marketplace versus us going out and acting like we know everything. We have the ability to let the marketplace tell us what they think about themselves in the category.”

Blockchain Hits The NFL  

The league also announced its intention to allow NFL clubs to explore sponsorship opportunities from platforms such as FTX, Coinbase, and others, rolling out its newest asset to potential partners. Anderson believes that the assets could help draw partners to hold rights, including the NFL’s official digital wallet and official blockchain partners. However, Anderson also added that the NFL is still learning about blockchain technology and what it offers. Anderson stated, 

“I think we’ll learn a lot about the use cases about how they can transform our future.”

Blockchain technology has significant applications apart from cryptocurrencies, giving collectibles such as non fungible tokens (NFTs) certificates of authenticity and ownership. 

Not On Board With Crypto Yet

However, Anderson also stated that the NFL is still not on board with the idea of cryptocurrencies and that it would “protect the business” and ease itself into the crypto sector. This could potentially mean that the NFL is taking a wait and watch approach as government officials debate regulations regarding cryptocurrencies and the crypto space. This approach is in stark contrast to that taken by the NBA, which has gone all-in on crypto. Regarding the NFL’s stance, Anderson stated, 

“We don’t have to be the first,” said Anderson. “But when we do something, we’ve got to get it right.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source: Crypto Daily

Share196Tweet123Share34Pin44ShareSend

Related Articles

Binance.US to Acquire Voyager Assets for $1 Billion
Crypto News

Binance.US to Acquire Voyager Assets for $1 Billion

December 20, 2022
1.4k
Democratic party will return over $1 million to FTX investors
Crypto News

Democratic party will return over $1 million to FTX investors

December 19, 2022
1.4k
BIS Now Allows Banks to Hold 2% of Reserves in…
Crypto News

BIS Now Allows Banks to Hold 2% of Reserves in…

December 18, 2022
1.4k
Silvergate Bank faces lawsuit over FTX and Alameda dealings
Crypto News

Silvergate Bank faces lawsuit over FTX and Alameda dealings

December 17, 2022
1.4k
Amber raises $300 million to laser focus on institutional clients
Crypto News

Amber raises $300 million to laser focus on institutional clients

December 16, 2022
1.4k
Changpeng Zhao Defends Binance During CNBC Appearance
Crypto News

Changpeng Zhao Defends Binance During CNBC Appearance

December 16, 2022
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.