So rare answered the UK Gambling Commission (UKGC) to place its fantasy football platform under investigation.
Yesterday, the commission confirmed that it was evaluating Sorare’s fantasy football game and digital collectibles platform, to determine whether the company was required to operate under license.
A company statement said, âWe are very confident that Sorare does not offer any form of regulated gambling. This has been confirmed by expert legal opinions at every step since the inception of the company, including several fundraisers. “
The fantasy soccer game allows players to buy, sell and trade virtual soccer cards to manage fantastic virtual teams competing in leagues and head-to-head matches.
In addition, the company said that when a product with emerging technology is successful, it is “normal” that there are regulatory issues.
âFans can celebrate their passion for soccer in a unique way, and by collecting rare NFT cards and playing our global fantasy soccer game, our community has unlocked a new way to connect with players and clubs. that they love, âSorare added.
âWe will always engage and have an open dialogue with the authorities who contact us to learn more about our game. We believe this is the responsible way to grow our game and our community globally. “
In addition, the Non-fungible token (NFT) maintains that while there is an exchange element on its platform, Sorare players can only participate in fantasy football matches by purchasing “fixed price” player cards. The games have no fixed odds, no player prizes are awarded through a betting pool.
UKGC’s approach to online gaming licensing has come under scrutiny following the collapse of Soccer Index, which has lost clients around Â£ 80million.
The organization said it could not dissuade players from registering and participating in the games as it has not determined whether Sorare’s game qualifies as a gambling transaction.
Last week the Bundesliga signed an agreement with So rare be part of a fantastic game with the aim of reaching more fans.
This partnership was aimed at enabling fans, collectors and fantasy football players around the world to play and trade freely with the Bundesliga and Bundesliga 2 NFTs.