The Premier League is taking legal advice over images of its trophy being used in non-fungible tokens (NFTs).
NFTs are non-interchangeable unique digital assets traded in in cryptocurrencies and verified by a blockchain, a form of digital ledger.
In simple terms, NFTs are a digital code that represents some form of digital item.
Several footballers have been promoting NFTs in recent weeks, including former Chelsea captain John Terry and Manchester United legend Wayne Rooney.
The retired England international is promoting cartoons of baby apes, some of which feature silverware - including the Premier League and Champions League trophies.
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And the Premier League - who are reportedly considering launching their own NFTs in the near future - is concerned about the use of its property in the artwork shared by Terry.
The Premier League trophy is protected by a trademark and cannot be used in a commercial venture without prior permission.
Chelsea are also investigating the use of their badge and intellectual property in one of the cartoons, as reported by The Athletic.
UEFA, meanwhile, are also keeping a close eye on the story. "UEFA takes the protection of its intellectual property rights seriously and we are investigating this matter further," read a statement.
Terry's endorsement is called the "Ape Kids Club" and has more than 109,000 followers on Twitter, including West Ham ace Declan Rice.
Terry has promoted cartoons of Tammy Abraham, Bobby Zamora, Ashley Cole, Willian, Jack Wilshere and Jody Morris. Former Manchester City midfielder Nigel De Jong is also involved in the project.
The Chelsea legend is expected to promote more cartoons in the coming weeks, describing himself as head coach and founder of AKFC - the Ape Kids Club's fictional dream team.
"Very excited to announce my signing with the AKFC!" tweeted Terry earlier this month. "Time to get to work! The project launches in 15 days! Now to find some team-mates!"
A further announcement on his project is expected at the beginning of February.
Terry started a coaching consultancy role at Chelsea earlier this month after a two-and-a-half-year spell as Aston Villa's assistant manager.
As reported by The Telegraph, the Ape Kids Club is an off-shoot of another collection of cartoons - the US-based "Bored Ape Yacht Club" - with Reece James, Neymar and basketball star Stephen Curry all owning a cartoon.
The collection contains 10,000 digital illustrations of cartoon apes, with rapper Eminem spending $461,868 - around £342,000 - on a cartoon last month.
NFTs are likely to become more prominent in years to come as the metaverse - an immersive, 3D experience of the internet - becomes part of everyday life.
Football clubs, however, are said to be concerned about players promoting NFTs due to their volatile market nature and lack of financial regulation.
The valuation of the digital images in question is currently high, although it could plummet dramatically and leave investors with worthless stock.