Terry had been promoting NFTs featuring the Premier League trophy
John Terry has removed the Premier League trophy from the Non-fungible tokens (NFTs) he had been promoting on his Twitter account after an intervention from the Premier League.
Reports earlier in the week revealed that the league were investigating Terry after he featured the trophy, alongside the cartoon apes, which is considered a registered trademark and therefore requires a licensing agreement to be used elsewhere.
As a result, The Telegraph have reported that the Premier League wrote to “Ape Kids Club” – the NFT collection Terry has actively been working alongside, to remind them of this regulation.
The former Chelsea captain has been hugely involved in the newly-discovered wave of NFTs and has been responsible for several other footballers and ex-professionals getting involved too, recently announcing the likes of Tammy Abraham, Reece James and Jack Wilshere’s NFTs.
https://twitter.com/JohnTerry26/status/1484133963916615682?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1484133963916615682%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.telegraph.co.uk%2Ffootball%2F2022%2F01%2F26%2Fpremier-league-could-take-legal-action-nfts-promoted-john-terry%2F
Those posts also featured the Premier League trophy and have since been deleted in order to comply with the rules set out by the league.
The NFT blockchain has been hugely successful in the USA and is now growing in the British and European market, however authorities are said to be concerned by the world of cryptocurrency.
Many clubs have also partnered up with cryptocurrency companies, including the likes of Socios who provide “fan tokens” to supporters.
The league itself has also considered entering the crypto world, but is considering its options.
In the last week, a major crypto-based fan platform, IQONIQ went into liquidation – leaving thousands of fans with fan tokens which have been deemed as worthless.
Related links:
- Chelsea reportedly investigating John Terry’s promotion of NFTs
- Premier League could take legal action over NFTs being promoted by John Terry and others
- Collapse of sports crypto giant leaves fans with worthless tokens
