adminLONDON. – Former England striker Michael Owen has deleted a tweet about a non-fungible token (NFT) project after he was contacted by the Advertising Standards Authority.
Owen, 42, wrote last month that “my NFTs will be the first ever that can’t lose their initial value”. It is understood the ASA considered that the tweet was likely to mislead consumers.
They contacted Owen asking for it to be removed, which has now been done.
The ASA is currently conducting a wide-ranging review of the issues surrounding NFT advertising. NFTs are one-of-a-kind assets in the digital world that can be bought and sold like any other piece of property, but which have no tangible form.
Speaking to The Sports Desk podcast, James Daley, managing director of Fairer Finance, said: “When you’re delving into something that’s very new and unregulated, and you’ve got footballers saying ‘you can’t lose’, it’s flashing alarm bells.
“It’s just not true – of course you can lose money. [Owen’s tweet] is incredibly dangerous, especially from a trusted and well-known celebrity.” – BBC Sport
Mathew Masinge
Online Reporter