The ANJ, France’s Gambling Authority, pressurizes Sorare to amend Web3 gaming rules

SNEAK PEEK

  • Sorare has iconic stars such as Cristiano Ronaldo, Lionel Messi and Kylian Mbappe involved in its game.
  • The platform gives prizes that are possible to be exchanged for money.
  • According to a spokesperson, in early 2023, Sorare will apply the temporary changes and has agreed regarding the requirement for new regulations.

Sorare, the NFT fantasy gaming platform, has said yes to modify its NFT soccer trading game’s rules under pressure from ANJ, the French National Gambling Authority.

The reason behind ANJ asking for changes is to improve account for Web3 gaming owing to the political backlash on the grounds that the present arrangements did less to safeguard both children as well as obsessive gamblers.

Sorare has agreed to grow free access to the game. Not doing so by March end will force the authority to go the legal way, which would enable it to apply fines going up to 5% of the turnover of a company.

In a statement, ANJ said:

The chosen solution constitutes a needed regulatory response to the offer made by Sorare.

Additionally, it said that other than protecting the public, it needs to support innovation as far as examining such developments in the coming time is concerned.

In a question to the government, Jerome Durain, French Senator, said that it seems the game fulfills all the requirements of gambling within the internal security code. He asked for enhanced controls to put an end to money laundering and playing by gambling buffs or children, which happen to be the same issues the ANJ has.  

Despite accepting Sorare’s deal as a traditional measure, the ANJ worries that the law is not up to the standard; thus, asked for a “rapid evolution” of legislation to provide for Web3.

The platform’s spokesperson shared that Sorare shares this immediate requirement and to define the regulatory framework, it is dedicated to work with each and every stakeholder and it includes ANJ as well. Sorare confirms its urge of creating the next worldwide entertainment leader.

Nicolas Julia, CEO of Sorare, said during the summer that that there’s nothing surprising if an evolving technology will lead to new questions and according to him, it indicates they are pushing boundaries.

In October, Premier League shared its plan to sign a $34.7 million deal with Sorare for NFT collectibles. The same month, Sorare announced the launch of a beta NFT-based NBA fantasy sports game.