NFT: Sorare and French regulation find common ground

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Free in transition – In the short term, Sorare, game of fantasy soccer using NFTs, will not fall under the regulation of the National Gaming Authority (ANJ). The regulator will still keep an eye on the activities of this company NFT.

Sorare and the ANJ find a temporary agreement

According to a press release dated November 18 from the national gaming authority, Sorare will not be not categorized as gambling and therefore escapes the supervision and regulatory control of the ANJ, at least for the time being.

For this, the game of fantasy soccer using NFTs based on Ethereum (ETH), undertakes to propose a solution that would strengthen ” free access to its tournaments “. These changes must be operational no later than March 31.

L’national gaming authority and Sorare have therefore reached an agreementafter the two sides had “a period of in-depth exchanges”, which began last March.

Sorare: the NFT fantasy football game on Ethereum
Sorare: strengthen the free offer to avoid being categorized as gambling

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A transitional solution pending crypto regulation

The solution agreed between Sorare and the regulator is only transitorypending an update of the legislation which will make it possible to include the new activities of web 3 in the competences of the national gaming authority.

In the medium or long term, the regulator should thus supervise Sorare, but the game of fantasy soccer should benefit an appropriate regulatory frameworkwith different or additional rules specific to its sector.

Waiting for this sustainable solution, the national gaming authority will set up the appropriate control mechanism. He will ensure this reinforcement of thefree offer from Sorareand compliance with other standard gambling requirements – protection of minors, fight against fraud and money laundering, etc.

Sorare succeeded in attracting football stars, like Lionel Messi, in its nets. After its marketing successes, the company must now make sure to play by the rules, to avoid taking a red card from the regulator.

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