The Brazilian Football Confederation (CBF) has ended its sponsorship agreement with Bitci, a Turkish blockchain company.
The CBF took this step after so many months of delay in payment. When the national team coach, Tite revealed Brazil’s team for the FIFA World Cup Qatar 2022 earlier this month, Bitci’s logo was missing from the backdrop poster.
The CBF signed a three-year agreement with Bitci in June 2021 to create a series of non-fungible tokens (NFTs) for Brazil’s national football teams.
Bitci became the official cryptocurrency of the Brazilian national football team and was to establish NFTs focused on the teams and their players as part of the agreement. The Brazilian men’s and women’s football teams, in addition to the U20, U17, and U15 teams, were all covered by the deal.
Bitci initiated NFTs inspired by the senior national team and its players in September 2021. Now, as per reports, Bitci is still trading these NFTs notwithstanding the numerous pleas from the CBF to stop. Consequently, the ruling body has not yet determined whether to file a lawsuit.