Nft Fantasy Football Platform Sorare Raises $680 Million In Series B Led By Softbank

However, Sorare has been quick to respond to the UKGC’s warning and impending investigation. The company highlighted that no regulated gambling takes place on the platform. The company has proven to be extremely popular in recent years, and it has formed partnerships with over 100 football clubs worldwide. Some of the most world-renowned clubs have been part of the company, including Real Madrid and Liverpool. Professional leagues like Serie A have been involved too, which has created huge sums for sponsorship and promotion. If someone choses the best performing players in their team for Sorare head-to-head or tournaments, they are rewarded with more collectables.

Furthermore, in early October, Sorare reached a deal with the German Bundesliga and Bundesliga 2 leagues to allow the platform to trade with NFTs. The sorare are hoping the agreement helps reach a more global audience with the promotion of its players. We take a closer look at what the Sorare platform is, evaluate the potential outcome of the UKGC’s investigation and how this could impact the future of NFTs in the UK. Select the amount you wish to withdraw to your bank account and click Continue.

Each digital card is registered as a unique token on the Ethereum blockchain. Sorare is a global fantasy football game where you can collect limited editions collectibles, manage your teams and compete to earn prizes. Sorare is a fantasy football platform, which doesn’t generally require gambling licenses.

Regulators are looking into whether or not the NFT game qualifies as gambling and thus require proper licensing. NFT Fantasy Football platform Sorare is under investigation by the UK Gambling Commission. There is no fee for cryptocurrency deposits, which instead happens for the relative withdrawal and that necessarily varies from crypto to crypto . If you plan to regularly deposit via Ramp, please be advised that the payment method via Revolut is currently not authorized by Ramp .

Fans expect and deserve real-time content and coverage across the NHL which requires the entire content procurement process to be automated, seamless and streamlined,” NHL VP of social media Sean Dennison said in a statement. The initiative will be in partnership with sports company Kosmos, founded by Barcelona player Gerard Piqué and Rakuten’s CEO Hiroshi Mikitani. Kosmos signed exclusive partnerships for intellectual property with over 50 iconic retired players such as Johan Cruyff, Diego Maradona, and Michel Platini. Coincidently,Rakutenannounced it is looking to launch an NFT marketplace in the Spring of 2022. That’s the fact that the collectibles are priced in ether, which fluctuates in value. To avoid this issue,Sports gaming platformDapper Labs recently signed a deal with Circle for similar purposes.

“He’s a real fan and brings me feedback on the scoring” (Forbes has not received a confirmation from Griezmann’s team by press time). In December 2020, Barcelona defender Gerard Pique joined the startup as a strategic advisor. Both players as well as Chelsea captain César Azpilicueta and former Manchester United captain Rio Ferdinand also participated in the current round. Sorare operates on Ethereum’s underlying blockchain network to secure the ownership and distribution of cards. The supply of cards is limited and cards cannot be altered, duplicated, or deleted.

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