NFT fantasy gaming platform Sorare has agreed to adapt blockchain-enabled NFT games by March 31, 2023, at the request of the French National Gaming Authority (ANJ).

The announcement follows extensive discussions between ANJ and Sorare since March 2021 regarding ANJ's concerns about the lack of regulations for web3-enabled game offerings such as those provided by Sorare. ANJ wishes to protect the general public from excessive gambling, minors, and to ensure compliance with anti-money laundering regulations.

Sorare's fantasy soccer game, powered by blockchain technology, allows players to buy, sell, and trade virtual teams represented by digital player cards. NFTs are priced in ETH and can be converted to fiat or cryptocurrency. The game is free, as are some common cards that can be used in certain games but have no monetary value. However, the most desirable NFT player cards can be quite costly. A player's NFT for a high-quality fantasy football team can easily cost hundreds of dollars.

Since its inception in 2018, the French startup web3 has grown tremendously, raising $680 million in Serie B funding and partnering with over 300 sports teams and organizations, including LaLiga, Bundesliga, and Serie A, as well as soccer. and MLB.

Sorare's solution would be to change the free access game offer so that it takes effect within the agreed-upon time frame. Meanwhile, ANJ will put controls in place by March 31 to ensure Sorare compliance. The ANJ will exercise its regulatory powers if the term is not followed. It also intends to update the regulations to reflect web3 activities.

"Sorare, at the request of the Autorité Nationale des Jeux (ANJ), has decided to temporarily change its offer by opening up new gaming opportunities for free users," the gaming company said in a statement in response to the ANJ's announcement. This development is significant. The company's path toward the creation of an inclusive ecosystem.

To allow these innovations to flourish in France, ANJ recognizes the importance of establishing a long-term regulatory framework that is appropriate for this new situation. Sorare recognizes the urgency of the situation and is committed to working with all stakeholders, including the ANJ, to develop this new framework."

ANJ is not the only regulator knocking on Sorare's door, as Sorare is one of Europe's innovators in this field. Last year, the UK Gambling Commission issued a notice that Sorare lacked a license and launched an investigation. However, the Commission has since remained silent on the subject.