As cryptocurrencies grow in popularity and more people are looking to become part of the growing world, the NFL has decided to allow teams to partner with crypto brands. As a result, we can enjoy a classical bond between both parties, and it would be impressive following how the teams are looking to influence the growth of the industry.
In March, the National Football League announced it would allow teams to enjoy the crypto world to help them earn more money from the growing industry. Fans and athletes have already bought into the crypto craze, and some sports betting merchants now use crypt to bet on NFL odds.
Undoubtedly, this growing popularity will remain incredible for the NFL industry since there is more to enjoy as the industry grows. We would expect them to push more boundaries following the success of the Dalla Cowboys and Blockchain.com partnership. It is one of the most exciting deals in the sport.
Betting on NFL lines has also become more accessible since more sports betting sites are beginning to pick crypto as one of their payment options. Therefore, you can see that there is growth for the team, and it makes sense for more partnerships because it will bolster the league and help the technology to grow.
We expect 2023 to bring in more partnerships despite the events that have happened throughout 2022. You can find out more about this fantastic news. Keep reading this article as we’ve broken the progress in addition to the promotion ban and how it will impact the league going forward.
Permission Grant
The league made its decision after undertaking and completing an evaluation of the technology to see how viable it could be for the teams, players, and the association. This grant allows teams to partner with different crypto brands. And the decision comes after the lobbying related to blockchain.
Given that teams are now free to partner with crypto brands, we’ve already seen a welcoming update with the Dallas Cowboys getting in bed with Blockchain.com. So, this progress will help the league and usher in more partnerships, kickstarting an incredible journey for the NFL industry and cryptocurrencies.
Rules
There are still a few rules against the teams partnering with crypto brands. For a start, each deal is subject to the approval of the National Football League, but it excludes stadium signage. In that case, the club will be in charge of the decision regarding naming rights, giving them the liberty to sign different profitable deals.
Aside from that, teams still can’t take on direct cryptocurrency promotions. So they can’t advertise the cryptocurrencies or take any deals promoting a project. In addition, there are restrictions on specific cryptocurrencies. Also, fan tokens can only be exchanged for experiences and merchandise.
How it Will Affect the League
There is a lot that the partnership will bring to the league. Every stakeholder in the industry will undoubtedly feel the impact. We expect them to keep adjusting the rules as the trust level grows. 2023 will be an incredible year for cryptocurrencies and the NFL. There will be more exciting events with these partnerships.
Even though 2022 has affected the crypto industry’s growth, there will be more exciting trends that will improve the industry. It should be exciting since we have more authenticity with the association backing the technology. Aside from that, there will be more projects with both industries partnering.
We expect NFTs also to take center stage as more deals happen. The future is looking suitable for this exciting update. And betting on Vegas NFL odds with crypto will remain popular among fans and the online gambling industry.
Our Thoughts
It would be an incredible run for the league since there is a lot of money in the industry. These partnerships can help both industries, and teams can get fundings that will make them push for their goals without hassle. Seeing their work to improve the industry would be exciting, and even struggling teams can get financial backing.
This is just the start of an incredible period in the NFL era because there is more to come. As the industry grows and more deals happen, we will get even more popularity for NFL and crypto. So, we are looking forward to what is to come and getting more positive NFL and crypto news.