The Gambling Commission in the UK has opened an inquiry into Sorare, a popular NFT fantasy soccer game that raised $680M in a funding round last month
“The Gambling Commission is currently carrying out enquiries into the company to establish whether Sorare.com requires an operating license or whether the services it provides do not constitute gambling.”
However Sorare — which closed a $680 million funding round for its NFT trading card platform in September — denied it was involved in anything approaching “regulated gambling”.
“We are very confident Sorare does not offer any forms of regulated gambling. This has been confirmed by expert legal opinions at every stage since the company was founded, including during a number of fundraising rounds,” it said on the company blog.
According to a “consumer information notice” from the Commission released earlier this week, Sorare is not currently licensed and consumers should take care when interacting with the site:
Sorare added: “We will always engage and have an open dialogue with authorities who reach out to us