Crypto In Sport - Key Legal Resources On NFTs, Cryptocurrencies, Fan Tokens & The Metaverse

Crypto markets have grown significantly in recent years and penetrated the sports industry in a host of different ways. Most noticeably, perhaps, has been the enthusiastic production of NFTs across many sports, starting with the high-profile NBA Top Shots. Fan Tokens have also been embraced by many of Europe’s top football clubs, and look set to spread to other sports. Crypto payments meanwhile remain more muted, although have been very popular in certain pockets (see Australian baseball team, Perth Heat, effectively adopting a complete “Bitcoin standard”). And last year, the ‘Metaverse’ entered the zeitgeist, and clubs rushed to understand its breadth and potential.

This crypto explosion has given rise to a whole host of legal issues, ranging from commercial rights to IP to tax. LawInSport has collated a comprehensive range of legal resources to help lawyers and commercial teams identify and manage the issues. This article summarises our main legal resources, which fall under the following headings:

• Non-Fungible Tokens (NFTs)

• Cryptocurrencies (use, advertising and sponsorship)

• Fan Tokens

• Metaverses