Sorare, the French startup that offers collectible 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). Thus, Sorare will have to strengthen its free content offer and will have to implement various solutions to protect its audience before the end of the 1st quarter of 2023.
Sorare finally agrees with the ANJ
Sorarethe 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 initiated last March between the 2 entities aimed at defining the framework in which Sorare should be regulated, the latter refusing to be classified in the category of gambling insofar as some of its content is completely free.
Also, as the Web3 universe does not yet benefit from appropriate regulation for its various offers that are still relatively new, Sorare will benefit from certain specific terms in order to continue to offer its products. As such, the company sees itself obliged to expand its offer of free productsalthough 90% of its audience is already made up of players taking advantage of the free content of the platform.
During this transitional period, Sorare will be subject to a control system ad hoc led by ANJwhich will be responsible for 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. capital.
According to the ANJ press release, it is possible that a more appropriate framework will be clearly defined within a certain time for Web3 gaming:
“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 effectively protecting the public but also supporting innovation. »
As provided for in the agreement agreed between Sorare and the ANJ, the fantasy football company will have until March 31, 2023 to implement the solutions mentioned.
A decision that could echo on British territory, Sorare currently being scrutinized by the UK Gambling Commission in order to define the way in which it must be supervised on site. For its part, the platform has always been open to dialogue and ready to discuss with the various regulators.
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Source: National Gaming Authority
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