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• UK Gaming Commission has announced that it is investigating the Ethereum NFT football fantasy game, Sorare.
• investigation aims to determine whether Sorare needs a gaming license to continue operating in the UK.

So rare, to Ethereum’s digital trading card-based fantasy football NFT has been investigated by the UK Gambling Commission, which is investigating whether the game requires a gaming license, which it does not currently own, to continue to operate in the country.

UK Gambling Commission issued a statement on Friday, writing, ” Gambling Commission is investigating the company to determine whether Sorare.com requires an operating license or whether the services it provides do not constitute gambling.”

Sorare allows players to buy and sell officially licensed digital stickers from players from more than 100 football clubs around the world, including clubs such as Juventus FC and Paris Saint-Germain FC. Each card is sold as a verifiable rare. NFT, which acts as a receipt for any kind of rare digital item.

Unlike other NFT-licensed projects Best Shooting in the NBA, however, Sorare also includes an unsurt of fantasy sports. Users can create weekly formations using their cards and compete with other Sorare users, earning points based on the actual performance of their respective players. best players in each cycle can win for free or even cards. Ethereum cryptocurrency prizes.

UK Gambling Commission statement suggests that Sorare’s approach could constitute gambling in some form and is considering whether or not to require the company to obtain a license to continue operating in the country.

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According to his statement, the commission will not comment further until its investigation is complete. Sorare, for his part, doesn’t think his service requires a gaming license.

“When a product with fledgling technology is successful, such as digital business cards and Sorare gaming, it is normal and there should be regulatory problems,” the company wrote. in a statement released today. “We are very confident that Sorare does not offer any type of regulated gambling.”

“This has been confirmed by expert legal advice at every stage since the founding of the company, including during a series of fundraising rounds,” he continued. “We will always work hard and have an open dialogue with the authorities who contact us to find out more about our game. We believe this is the responsible way to grow our game and our community globally.

Sorare recently raised a $ 680 million Series B Funding Round with a valuation of $ 4.3 billion and the game has significant investors including social media influencers and NFT Entrepreneur Gary Vaynerchuk, as well as Reddit co-founder and founder. for Seven Seven Six, Alexis Ohanian.

In addition to last month’s funding, Sorare announced significant growth initiatives, including opening a US office, incorporating women’s soccer teams, and expanding its NFT-based brand into other sports.

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