On Friday, the UK’s Gambling Commission issued a notice about fantasy football game Sorare, saying that the platform is not licensed by the Commission. It also stated there is a current pending inquiry. As outlined below, there’s more to this than might be evident at first. The Gambling Commission was itself recently scrutinized, and it’s conceivable that the inquiry aims to consult outside lawyers given the novelty of the platform.
Sorare has deals with more than 180 football clubs, including some of the world’s biggest, as well as league wide contracts with the likes of Spain’s LaLiga and the German Bundesliga. Players buy NFT card collectibles and can use them in free-to-play fantasy games, earning prizes of other collectibles or ether cryptocurrency.
Just three weeks ago, the French startup announced a $680 million funding round led by Softbank.
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