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NFL Ditches Crypto Sponsorships Thanks To FTX’s Collapse

Published 08/02/2023, 07:49
Updated 08/02/2023, 08:15
NFL Ditches Crypto Sponsorships Thanks To FTX’s Collapse

  • The National Football League (NFL) have avoided crypto sponsorships for the upcoming Super Bowl LVII.

  • The league ditched crypto sponsors due to the collapse of FTX and the turmoil that followed.

  • The upcoming Super Bowl will have zero representation from the crypto industry.

The National Football League (NFL) collected a record $1.88 billion in sponsorship fees for the upcoming Super Bowl LVII. However, none of the sponsors are affiliated with the crypto industry. The league largely avoided association with crypto firms due to advertisers’ concerns with the industry following the collapse of the Bahamas-based crypto exchange FTX.

According to a recent report, the NFL took a methodical and conservative approach to sponsorship for its flagship event after witnessing the impact that the crypto space’s implosion last year had on the National Basketball Association (NBA). Miami’s FTX Arena was left stranded with no sponsor after lawsuits against the crypto exchange started pouring in last year.

In terms of crypto sponsorships, the upcoming Super Bowl will be in stark contrast to last year’s event, which was dubbed the “Crypto Bowl” due to the high-pr…

The post NFL Ditches Crypto Sponsorships Thanks To FTX’s Collapse appeared first on Coin Edition.

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