Author : Mark

Date : Dec 27,2022

After the football team's Google advertising for NFTs sold at Sotheby's on July 29, 2022

As more well-known individuals and businesses continue to advocate for NFTs, they must also traverse the current regulatory environment, which forbids the promotion of these assets. FC Barcelona recently had to defend an NFT advertisement before the Advertising Standards Authority, serving as a good example of this (ASA).

Information on the Sanctions

After the football team's Google advertising for NFTs sold at Sotheby's on July 29, 2022, this problem arose. The ASA asserts that the advertisement failed to emphasize the "risks" of NFTs and the rules and regulations governing ownership. The club has retaliated, claiming that because the sold assets did not meet the criteria for investments, the same rules did not apply.

The club also claimed that character limitations prevented the terms and conditions in question from appearing in the ad but were there on the website. Despite this, the ASA was not persuaded, stating that users needed to be made aware of the dangers involved with NFTs because they are digital assets and can be held speculatively.

It goes without saying that NFT projects will need to use the utmost caution while advertising. This is especially true in light of the fact that the ASA previously penalized both crypto.com and Arsenal Football Club for the same offense.