NFT Sports Platform Sorare Receives Regulatory Green Flag

NFT Sports Platform Sorare Gets Regulatory Green Flag Ahead of FIFA World Cup

NFT Sorare collectible card game wins big ahead of the World Cup. It will no longer be categorized as gambling.

Sorare is a blockchain-based fantasy game where players buy, sell, trade and manage a virtual team using digital player cards in the form of non-fungible tokens (NFTs). In September 2021, Sorare raised $680 million in a Series B funding round led by the SoftBank Vision Fund team. The company’s latest valuation is $4.3 billion.

Sorare will no longer be classified as gambling

The French startup went into battle with the French National Gambling Authority (ANJ), which felt that the NFT fantasy game should be classified as a gambling game. Sorare explained that players never lose their cards (NFT), so it should not be classified as a gambling platform.

According to The Big Whale report, Sorare made peace with ANJ; Both sides found a solution. This is a big win for Sorare because it can avoid certain financial restrictions that gaming platforms must follow under regulatory guidelines.

We have found a preliminary solution with the French National Gambling Authority (ANJ) that would satisfy both parties.

Nicolas Giulia, co-founder of Sorare

Lionel Messi X Sorare

Argentine football legend Lionel Messi joined Sorare as an investor and brand ambassador earlier this month, according to a CNBC report. The partnership aims to set new standards for how fans communicate with clubs and players.

We believe Messi will help us set new standards in how we do it and we look forward to sharing the new content and fan experiences we are collaborating on soon.

Nicolas Julia

NFT Cristiano Ronaldo Live

Messi’s main rival, Cristiano Ronaldo, has announced his NFT collection ahead of the FIFA World Cup. According to the Binance NFT marketplace, the NFT collection is owned by 1,048 fans and has a trading volume of $28,000.

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Written by khirou

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