FC Barcelona sanctioned in UK over NFT ads
The UK advertisement regulator ASA cracks its whip on FC Barcelona, banning its non-fungible token (NFT) ads, in a series of actions against crypto in public space. FC Barcelona becomes the latest soccer club facing the wrath of the advertising regulator for an NFT traded at Sotheby. It was Der Erste created by the legendary team, named Johan Cruyffs 1973 impossible goal. The club had paid for its Google search and labeled it in July. The creators of the NFT immortalized the goal and made it exclusive. Creating an NFT requires the developer to follow specific guidelines set by the regulator. ASA pointed out the mistakes that the football club committed, starting with not putting a disclaimer that shows the risks of NFTs, the amount charged for viewing the NFT, and ownership rights. ASA has prioritized ensuring that any entity or person investing in NFT follows the stipulated procedures. Barcelona defended creating the NFT and claimed it was not a financial product. Therefore, purchasing one could not amount to investment. They contended that NFTs could not follow financial rules. The defense team informed ASA of the terms and conditions on the clubs official website and were willing to add them to Google ads, but the