Nicolas Julia, CEO of Sorare
A BILL will provide a framework for games based on NFT such as Sorare. In anticipation of this new frameworkthe french unicorn announces a temporary evolution of its games agreed withNational Gaming Authority (NGA).
Do Sorare’s fantasy sport games based on collectible cards (NFT) fall under the category of gambling in the same way as sports betting? The French nugget takes a clear stance: ” Sorare has nothing to do with games of chance regulated by the ANJ”.
The unicorn had to convince the regulator, however, and in November 2022 an agreement was reached. This provided for a transitional solution, pending a suitable legislative framework. This temporary measure has just been detailed by the company.
A French regime for games with exchangeable digital objects
This can now be implemented. The French government has announced its intention to legislate by ordinance to establish a regulatory framework. These legislative initiatives are part of the bill on securing the digital environment presented on May 10.
However, legislative time is not entrepreneurial time. In the meantime, Sorare is therefore preparing to roll out a “ temporary solution “. It will respond “specifically to discussions with the French regulator”.
To comply withANJSorare is temporarily changing the way you can take part in competitions organized on its platform, Sorare: Football and Sorare: MLB. French players will be able to play without digital trading cards.
Competitions without blockchain cards, subject to conditions
The Sorare principle is fantasy soccer (and other sports too) supplemented by player cards, NFTs. To take part in competitions, you needed these digital assets. For the time being, this rule becomes optional – under certain conditions.
But with no cards available, these players start with a handicap. Sorare balances the competition by randomly generating a team.
The proposed teams will be randomly composed from the players represented on all the blockchain cards mobilized during the relevant Game Week.”
The unicorn specifies that the alternative method is already active for soccer. For Sorare: MLB, it will be available from Game Week 17. For basketball, the option will come into effect in the fall, at the start of the 2023-24 season.
A transitional adaptation and preserved gameplay
Sorare insists: this alternative is subject to “ strict rules “The player must be domiciled in France. Among other requirements, the player must not have submitted a team made up of blockchain cards for the same competition.
Pending new French regime for “games with exchangeable digital objectsSorare considers these adaptations to be satisfactory.
This temporary solution allows us to protect the integrity of our gameplay and reward structure,” says the startup.
As for future regulation, it considers this to be “excellent news for Sorare and for the entertainment offerings of the Web3 “. In her view, the introduction of such a framework will enable its players “to take full advantage of the potential” of this new space.
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