The Gambling Commission of the United Kingdom has issued a warning against Sorare.com, a fantasy football platform based on non-fungible tokens (NFTs).

The gambling watchdog recently issued a statement warning consumers that the Sorare platform does not have a gambling license. They will look into whether the firm needs a gambling license in order to operate in the country.

Consumers are advised to consider this when using Sorare’s platform because it operates “outside of the gaming regulations that a licensed operator should comply with,” the Gambling Commission stated.

The Gambling Commission is investigating whether Sorare should be needed to obtain a gambling license or if its services do not genuinely constitute gambling, according to the notice.

Fantasy football platform does not require gambling licenses, in most cases. However, because the platform requires users to purchase NFTs, and its competitive nature is the reason for its current situation with the regulators.

In response to this notice, the firm claimed in an official statement that it is “quite certain” that it “does not offer any types of regulated gambling” and that it has validated this with legal experts. And it welcomes the investigation and will cooperate to ensure they are operating lawfully in England.

Sorare added that “we will always engage and have an open dialogue with authorities who reach out to us to learn more about our game. We believe this is the responsible way to grow our game and community globally.”

In this day and age, people are always looking for ways to make their time more efficient. One way they do this is by collecting digital cards from games they love to play. Websites like sorare.com allows you to collect and trade your digital cards with other users around the world.

Pavan A

CBW - External Analyst

INDIA