Sorare, the French startup that offers trading card games in the form of non-fungible tokens (NFT) based on the sports universe, has managed to reach an agreement with the National Gaming Authority (ANJ). Therefore, Sorare will have to strengthen its offer of free content and will have to implement several solutions to protect its audience by the end of Q1 2023.
Sorare finally agrees with the ANJ
So rarethe French unicorn that offers a world of fantasy football based on the use of non-fungible tokens (NFT)will have finally reached an agreement with the National Gaming Authority (ANJ).
The decision was taken after a long dialogue started last March between the 2 bodies aimed at defining the framework in which to regulate Sorare, the latter refusing to be classified in the gambling category to the extent that some of its content is completely free.
Furthermore, since the Web3 universe does not yet benefit from adequate regulation for its various still relatively new offers, Sorare will benefit from some specific conditions to continue offering its products. As such, the company is forced to expand its offer of free productsthough 90% of its audience is already made up of gamers taking advantage of the platform’s free content.
During this transition period, Sorare will be subject to a control system ad hoc led by ANJwhich will take care of both ensuring the implementation of the free offer of the platform, the good prevention of excessive gambling and the protection of minors, but also the fight against fraud and money laundering.
According to the ANJ press release, it is possible that a more appropriate framework for the Web3 game will be clearly defined within some time:
“The chosen solution constitutes a necessary regulatory response to the offer proposed by Sorare and, more generally, to the emergence of new comparable offers, with a view to effective protection of the public but also to support innovation. »
As required by the agreement entered into between Sorare and the ANJ, the fantasy football club will have until 31 March 2023 to implement the solutions mentioned.
A decision that could echo on British territory, Sorare is currently under review by the UK Gambling Commission in order to define how it should be supervised on site. The platform, for its part, has always been open to dialogue and ready for dialogue with the various regulators.
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Source: National Gaming Authority
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