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Following months of uncertainty, the NFL has relaxed its stance on blockchain companies and cutting sponsorship deals with its teams. Therefore, paving the way for NFT firms to enter into partnerships within the industry.
Despite previously taking a cautious approach, the NFL now appears ready to embrace the blockchain. According to a memo released by the company last Tuesday, the league has identified certain aspects of the industry that could prove beneficial to its ideology. As a result, it will allow Web3 companies to enter the fold as long as they are properly vetted beforehand.
Are you ready for some crypto?
The NFL is finally letting teams go after blockchain sponsorships: https://t.co/qDIyydHt4G pic.twitter.com/XrRMxylNYA
— TheStreet (@TheStreet) March 23, 2022
Some restrictions still apply however, as the NFL looks to ease itself into the industry. As such, teams must enter into long-term partnerships that don’t expire before the end of the 2025 season, while any major deals with NFT companies will initially take place at a league level, thereby benefiting the NFL as a whole.
Even with the previous restrictions, NFTs have still managed to sneak their way into the game. Notably, through prolific performer, and co-founder of the Autograph NFT marketplace Tom Brady, as well as getting a shoe-in at this year’s Super Bowl.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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