NFL working on NFT strategy

NFL: SEP 17 Seahawks at Bears
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The latest craze that few understand involves so-called NFTs. To no surprise, the NFL is in the process of figuring out how to make as much money from it as possible.

Via Ben Fischer of Sports Business Journal, the league currently is engaged in “active discussions” with potential partners to devise a strategy for digital collectibles. In a memo distributed to all franchises, the league told teams that they should not make their own NFT deals without checking with the league first.

The league also is exploring blockchain technology as a potential device for ticketing, and regarding whether NFTs can drive value alongside tickets.

The league’s memo explains that a “measured and deliberate approach” to this new area will be employed.

Multiple individual players already have taken the NFT plunge, including Rob Gronkowski and Patrick Mahomes. Last week, Gronkowski grossed $1.75 million via the sale of 348 digital collectible cards; one of the items went for $433,000.