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ARTICLE · 24 JANUARY 2022

What Is An NFT Sweepstakes AMOE?

Klein Moynihan Turco LLP
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To attract consumers in this increasingly competitive environment, NFT minters turn to promotional NFT contests to both generate excitement among consumers and increase company revenue.

United StatesMedia, Telecoms, IT, Entertainment
David O. Klein
David O. Klein
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To attract consumers in this increasingly competitive environment, NFT minters turn to promotional NFT contests to both generate excitement among consumers and increase company revenue. Where minters decide to market their NFTs through sweepstakes, they must adhere to relevant state and federal laws, rules, and regulations. For example, while minters may allow participants to enter contests by purchasing their NFTs, unless a free alternative means of entry ("AMOE") is offered, these contests will violate applicable state lottery laws. Further, minters must properly disclose their NFT sweepstakes AMOE in the contest rules, disclaimer, and marketing materials. 

Sweepstakes Consideration

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