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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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UK Gambling Commission opens inquiry into fantasy NFT soccer game Sorare

The UK gambling watchdog is trying to determine whether or not fantasy NFT soccer game Sorare should be required to have a gambling license.

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 to learn more about our game

According to Sorare's website, "Sorare is a Fantasy Football Game based upon blockchain, where you can win rewards for picking the best lineups."

Developed in 2018 by Nicolas Julia and Adrien Montfort, players buy, sell, trade, and manage a virtual team with digital player cards. The Ethereum-based based platform has partnered with 100 soccer clubs including household names like Real Madrid and Liverpool.

In an opinion piece on Gambling Insider, Richard Williams, a gambling and regulation partner at Keystone Law, argued that Sorare may fall into the category of pool betting or gaming regulated activity under the Gambling Act 2005:

“The Commission will no doubt carry out a thorough review of the product, but there is certainly a legal question mark over this. It is possible that the product could fall into the betting (pool betting) or gaming regulated activity under the Gambling Act 2005, depending on how it is structured.”
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