United Kingdom’s Gambling Commission investigating NFT Fantasy Football platform Sorare


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