A leading soccer league has filed several trademarks in the world of cryptocurrency and non-fungible tokens. Here are the details.
What Happened: The English Premier League filed for several new trademarks on June 6, according to a report from Decrypt.
Trademark attorney Michael Kondoudis shared the filing on Twitter, which highlights the trademarks are around digital asset trading, NFTs, cryptocurrency, digital tokens and digital trading cards. Other portions of the trademark filings included the use of virtual reality and augmented reality.
Related Link: How To Buy NFTs
Why It’s Important: The English Premier League is one of the largest soccer leagues in the world and contains some of the most valuable teams worldwide.
The filings from the English Premier League come as other soccer leagues have seen teams launch their own digital tokens and also signed deals with Sorare, a leading NFT digital trading card with fantasy sports elements.
Sorare recently signed a deal with Major League Soccer in the U.S. and has been rumored to have been circling the English Premier League for years.
The National Basketball Association, National Football League and La Liga all have deals in place with Dapper Labs for NFTs featuring in-game moment videos.
The filing could signal that the English Premier League intends to enter into broad league-based crypto and NFT initiatives, instead of having teams make their own decisions.
EPL team Manchester United (NYSE:MANU) is publicly traded in the U.S. and is one company that could benefit from the new trademark and league wide adoption of NFTs and crypto. Manchester United signed a deal with Tezos previously and has dipped its toes into the crypto space.
MANU Price Action: Manchester United shares are trading at $12.35 versus a 52-week range of $10.51 to $20.86.
