Weekly crypto news on sports - Bitcoinist
Taylor Scott- Bitcoinist
The Sports Slice
NFL Eases Crypto Restrictions
Throughout nearly a year now of publishing The Sports Slice each week, we’ve covered quite a bit of content around the back and forth relationship between the NFL and crypto. The league clearly sees the undeniable revenue potential around blockchain and crypto-related firms, but as it often does, the NFL is not interested in being a first (or even second) mover in the area; they feel much more comfortable playing their cards conservatively when it comes to new sponsorship categories.
The potential revenue-driving opportunities could be turning that corner for the NFL, though. New reports this week have emerged that the NFL will now allow teams to pursue their own sponsorship deals in the space, but will still not allow direct promotion of cryptocurrencies. This includes fan tokens as well. Additionally, restrictions around stadium signage and deal-length (currently capped at three-year max deals) are in play. However, the move signals a clear shift towards the NFL’s conduciveness to engage in crypto and blockchain deals. Slowly but surely.
Liverpool Generates Mixed Reviews From Its NFT Endeavor
Liverpool FC is in the midst of a rock and a hard place after announcing a new NFT release of over 170,000 NFTs – expected to raise nearly $10M for the club. Liverpool has said they will sell the NFTs over a three day period, will be released on the Polygon blockchain, and burn any unsold NFTs from the collection.
So far, this seems all relatively straightforward when it comes to NFT releases – so where does the controversy come in? Many critics have started claiming that since Polygon is dependent on Ethereum (as it is a scaling solution), its reliance adds to the detrimental energy consumption that Ethereum is often criticized for. In short, critics of the NFT release are claiming that usage of Polygon is essentially equivalent to the usage of Ethereum – and that the energy impacts of this should be considered
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