Chelsea legend John Terry removes Premier League trophy from NFTs he is promoting after a legal warning from Premier League.
Terry removed the trophy from his non-fungible token (NFT) after it was used in digital assets he promotes.
Footballers from the past and present have jumped on the cryptocurrency bandwagon, allowing them to make money from digital creations.
NFTs are typically sold for 0.05 Ethereum (ETH), which is currently worth £93.79 plus a transaction fee.
Terry has been promoting baby ape cartoons on his Twitter page, along with illustrated images of the various trophies he has won throughout his career.
The Premier League trophy, which is trademarked, is one of the titles that surround the cartoon ape.
If its image is used in a commercial venture, a licensing agreement with the Premier League is required.
Following its use in Terry’s NFTs, the Premier League notified the former defender and the ‘Ape Kids Club’ that he would require a licensing agreement to continue using it, according to The Guardian.
UEFA is also looking into the matter after discovering illustrations of both Champions League and Europa League trophies in the NFTs.
According to The Athletic, after discovering the NFTs, a UEFA spokesperson stated, ‘UEFA takes the protection of its intellectual property rights seriously, and we are investigating this matter further.’ Thank you for drawing our attention to it.’
According to the Guardian, Chelsea is also investigating the cartoons, which feature images of the club’s badge.
The Chelsea legend John Terry made a U-turn after dismissing the original Telegraph reports as ‘absolutely plum’ on Twitter when the story was published on Wednesday.
Terry responded to the Telegraph, writing, ‘Must be true if Sam wrote it…’ ‘Absolutely plum.’
Terry, along with other Premier League greats such as former Chelsea and England teammate Cole, have been tweeting support for the ‘Ape Kids Club’ NFTs.
An NFT is a non-transferable, one-of-a-kind unit of data that is tracked on a blockchain to ensure its authenticity. These collectible data units, which can represent anything online, can be sold for large sums of money.
The Ape Kids Club NFTs are an offshoot of the ‘Bored Ape Yacht Club,’ which has gained popularity in the United States and has seen celebrities such as Eminem spend $461,868 (£342,000) on a digital illustration of the cartoon ape.