UK Gambling Commission opens inquiry into fantasy NFT soccer game Sorare

The UK gambling watchdog is trying to determine whether or not fantasy NFT soccer game Sorare should be required to have a gambling license. Read the full article by: Despina Karpathiou

Key Points:

• Sorare has become a fairly popular in the UK with its fantasy soccer NFT game which closed a $680 million in funding recently.

• The UK gambling commission is now looking into the project to see if they are in any violations of operating without licenses.

• “We are very confident Sorare does not offer any forms of regulated gambling. This has been confirmed by expert legal opinions at every stage since the company was founded, including during a number of fundraising rounds,” said the commission in a blog post.

• Sorare operates similarly to any regular fantasy or daily fantasy gambling like Draft Kings but utilizes blockchain. They will be given time to get those licenses but in countries like the US it may be up to which states consider gambling illegal.