NFT Gaming: Sorare Under Investigation by UK Regulatory Authority
Sorare, an Ethereum-based fantasy football NFT game, is currently under scrutiny by the UK Gambling Commission to determine whether it requires a gambling license to operate within the country.
Sorare allows players to buy and sell officially licensed digital trading cards featuring players from over 100 football clubs worldwide, including prominent teams like Juventus FC and Paris Saint-Germain FC. Each trading card is sold as an NFT (Non-Fungible Token).
In addition to trading cards, players can build teams and compete against others based on the real-world performance of their chosen footballers. Top performers in each cycle can earn free cards or even Ethereum cryptocurrency rewards.
Following the investigation by the Gambling Commission, Sorare representatives clarified that the game does not require a gambling license because it is purely a digital trading and collecting game involving player cards. Sorare emphasized that this position has been legally vetted since the company's inception, including during fundraising rounds.
This development underscores ongoing regulatory scrutiny within the NFT gaming sector, where distinguishing between digital asset trading and gambling activities remains a critical issue.
