The National Football League (NFL) of the United States refused to cooperate with sponsors working in the cryptocurrency industry due to the situation with the FTX exchange.
The NFL has announced that a record $1.88 billion in funding has been raised for the upcoming Super Bowl LVII, which will take place on the night of February 12-13, but none of the sponsors are affiliated with the cryptocurrency industry. The League deliberately stopped working with crypto companies on advertising issues due to the fiasco of the FTX exchange, which had a negative impact on the market and undermined the confidence of many investors in digital assets.
The NFL believes it is best to take a more conservative approach to the event, given that last year the Texas Securities Board filed suit against some National Basketball Association (NBA) players for advertising FTX.US that did not warn about the risks of using the products. and services of this exchange.
According to the NFL, last year’s Super Bowl LVI was jokingly referred to as the “Crypto Bowl” due to the abundance of advertising for trading platforms Coinbase, Crypto.com and the infamous FTX. In total, about $54 million was spent on their advertising. Now, brands of alcoholic beverages will appear on the advertising platforms released by the exchanges, including Anheuser-Busch, Heineken and Remy Martin.
Clubs in the NFL are prohibited from promoting digital currencies, but the League does allow blockchain-related sponsorship deals. So far, NFL clubs have completed fifteen deals related to the blockchain, eleven of which are related to the Socios platform for promoting fan tokens.
Source: Bits
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