{"id":51025,"date":"2021-10-12T09:51:13","date_gmt":"2021-10-12T06:51:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51025"},"modified":"2025-09-02T21:28:57","modified_gmt":"2025-09-02T18:28:57","slug":"british-regulator-opens-investigation-into-sorare-nft-platform","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/british-regulator-opens-investigation-into-sorare-nft-platform\/","title":{"rendered":"British regulator opens investigation into Sorare NFT platform"},"content":{"rendered":"<p>The British Gambling Commission has initiated an investigation into Sorare&#8217;s fantasy football <span data-descr=\"non-fungible tokens\" class=\"old_tooltip\">NFT<\/span>-platform. The regulator notes this on <a href=\"https:\/\/www.gamblingcommission.gov.uk\/news\/article\/consumer-information-notice-sorare-com\">its website<\/a>.<\/p>\n<p>According to the regulator&#8217;s statement, the company does not hold a licence to operate in the region \u2014 British consumers were urged to take this into account when deciding whether to use the service.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis means that any actions taken on the site by users in the United Kingdom fall outside the rules that a licensed operator must follow,\u201d the Commission noted.<\/p>\n<\/blockquote>\n<p>The regulator plans to determine whether Sorare has features of a gambling platform.<\/p>\n<p>Representatives of the service said they were ready to engage with authorities and expressed confidence that they do not offer users \u201cany form of regulated gambling.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis has been confirmed by lawyers at all stages since the company&#8217;s founding, including during several rounds of funding,\u201d the <a href=\"https:\/\/medium.com\/sorare\/official-statement-5349bcf5f7da\">statement<\/a> says.<\/p>\n<\/blockquote>\n<p>Sorare was founded in 2018. The platform allows buying, selling and exchanging NFT cards of players from leading football clubs worldwide. The tokens are also used in virtual prize tournaments.<\/p>\n<p>Among Sorare&#8217;s 175 partner clubs are the French <a href=\"https:\/\/u1f987.com\/en\/news\/paris-saint-germain-tokenises-neymar-and-david-beckham\">\u00abParis Saint-Germain\u00bb<\/a>, Italian Juventus, Spanish Barcelona, Russian Spartak, and <a href=\"https:\/\/u1f987.com\/en\/news\/zenit-tokenises-artem-dzyuba\">\u00abZenit\u00bb<\/a>.<\/p>\n<p>According to the company, the platform has more than 600,000 registered users. Since the start of 2021, trading volume has surpassed $150 million.<\/p>\n<p>In February, Sorare raised <a href=\"https:\/\/u1f987.com\/en\/news\/benchmark-leads-e40-million-funding-round-for-sorare\">$50 million<\/a>. The funding round was led by venture capital firm Benchmark.<\/p>\n<p>In September, the NFT platform closed a Series B financing round<a href=\"https:\/\/u1f987.com\/en\/news\/sorare-nft-platform-raises-680m-at-a-4-3bn-valuation\"> for $680 million<\/a>. The company&#8217;s valuation stood at $4.3 billion.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Gambling Commission has opened an investigation into Sorare&#8217;s fantasy football NFT platform, according to the regulator&#8217;s website.<\/p>\n","protected":false},"author":1,"featured_media":51026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1213,36,2258,810],"class_list":["post-51025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nft","tag-regulation","tag-sorare","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51025"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51025\/revisions"}],"predecessor-version":[{"id":51027,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51025\/revisions\/51027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51026"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}