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UK Regulator investigates NFT platform Sorare

The Sorare fantasy football NFT platform is being investigated by the UK Gambling Commission. This is stated on the regulator's website.

According to the report, the company does not have a license to operate in the region. British consumers were urged to take this fact into account when making decisions about using the service.

The Gambling Commission plans to determine whether the services Sorare provides are gambling.

Sorare representatives declared their readiness to conduct a dialogue with the authorities and expressed confidence that they do not offer users "any form of regulated gambling."

Sorare was founded in 2018. On the platform, you can buy, sell and exchange NFT cards of players from the world's leading football clubs. Tokens are also used in virtual prize tournaments.

In September, French NFT fantasy football platform Sorare has completed a $680 million round of funding led by Japanese telecom giant SoftBank.

According to the company, more than 600,000 users are registered on the platform. Since the beginning of 2021, the trading volume has exceeded $150 million.

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