Swiss Gambling Authority Files Complaint Against FIFA’s NFT Platform
- Gespa, Switzerland’s gambling authority, has filed a criminal complaint against FIFA Collect for offering unlicensed gambling services.
- The platform’s “right-to-buy” NFTs are considered similar to lotteries and sports betting by the regulator.
- FIFA Collect operates on an Avalanche L1 network after transitioning from Algorand earlier this year.
- RTB collectibles allow users to purchase World Cup tickets, ranging from $98 to $6,000 on the secondary market.
The Swiss regulator Gespa has taken legal action against FIFA’s blockchain-based collectible platform for potentially violating Swiss gambling laws through its NFT offerings that resemble gambling activities such as lotteries and sports betting.
This move highlights regulatory challenges faced by blockchain platforms like FIFA Collect, which offers high-value ticket purchasing opportunities via NFTs in exchange for monetary stakes. Source
