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FC Barcelona Sanctioned For Endorsing NFTs

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More mainstream companies and personalities are promoting NFTs. 

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However, these individuals must also navigate the regulatory environment that governs their promotion. 

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FC Barcelona was recently forced to defend an NFT ad before the Advertising Standards Authority (ASA).

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After the football club placed Google ads to sell NFTs at Sotheby's, this issue was born. 

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The ASA claims the ad failed to highlight the 'risks of NFTs and the terms of ownership.

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Club responded by claiming that the assets sold were not investments and, therefore, did not fall under the same rules.

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Also, the club claimed that the terms and conditions in question were available on the website but not in the ad because of character restrictions. 

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ASA, however, needed to be convinced. They stated that NFTs could be held speculatively and are digital assets.

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NFT projects will need to be careful about advertising. 

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This is particularly true considering that the ASA sanctioned crypto.com and Arsenal Football Club last year.

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