The French start-up Sorare, creator of an online game for exchanging sports cards based on unique digital objects (NFT), has promised to “evolve” its offer pending “an adaptation of the legislation”, the National Authority of the Game (ANJ) announced on Friday.
At the end of a period of “deep discussions” that began last March between the National Gaming Authority and Sorare, the ANJ college considered that “serious doubts regarding the legislation on money games generated by the offer of the company”. , that of card tournaments, justified “a rapid evolution of it,” recalled the regulator in a press release.
“The company has responded to this request by offering a solution that strengthens free access to these tournaments,” he added.
Such evolution of Sorare’s offer “must be operational no later than March 31,” he warned.
This young French offspring, valued at 4.3 billion dollars, is located at the crossroads of very dynamic sectors: “gaming”, NFTs, unique digital cards based on “blockchain”, and the best-known virtual sports leagues under the name of “fantasy”. “. Sports”.
Each player’s unique cards are auctioned off by Sorare, which is where the company makes its profit. The record is held by a single card from footballer Erling Haaland, sold for more than 600,000 euros.
Based in Paris and New York, Sorare boasts a total of more than 2 million users worldwide and 280 partner sports clubs and organizations, including the North American Basketball League (NBA).
Also in the crosshairs of the UK authorities, the company, which refuses to be treated as a game of chance, claiming to have invented a new economic activity, has also been blocked in Switzerland.
The decision of the ANJ, however, constitutes “a transitory step” before “the adoption of a lasting solution that requires an adaptation of the legislation to incorporate these new activities related to + Web3 + (a term that designates the revolution in the uses of ‘ internet, editor’s note) within the framework of the regulation operated by the ANJ”, stressed the regulator.
“It is something extremely positive to see that we have a regulator that knows how to support innovation and that knows how to recognize the need to change the texts, which do not necessarily adapt to changes in uses and technologies,” reacted Nicolás Julia, the co-founder of the business.
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