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Sorare’s CEO on the Regulation of the NFT Market

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According to reports, Nicolas Julia, CEO of Sorare, a NFT game company, said that the NFT market might be regulated, but Sorare NFT should be regulated under t…

Sorares CEO on the Regulation of the NFT Market

According to reports, Nicolas Julia, CEO of Sorare, a NFT game company, said that the NFT market might be regulated, but Sorare NFT should be regulated under the “new category”. He said: “We have been actively cooperating with all regulatory agencies in the United States and Europe to help establish a framework that may be suitable for the new category we are building. Obviously, it is not a gambling product, nor is it a daily fantasy sports product. This is a new category where you really own your own products, without the concept of betting or losing money. We have received the support of the French government, and they are promoting a new category that is expected to be in the next few months We hope that the United States will follow the new framework.

Sorare CEO: Sorare NFT should be regulated under “new category”

Interpretation of the news:


Nicolas Julia, CEO of Sorare – a leading NFT game company, believes that the NFT market needs regulation, but his company’s products should be regulated under a new category. Julia has been working closely with regulatory agencies in the United States and Europe to help create a regulatory framework for this emerging market.

Sorare’s NFT is a new category where the customer owns the digital product without the concept of gambling or losing money. Julia emphasized that Sorare’s product is not a gambling product, nor is it a daily fantasy sports product. The company has already received support from the French government, which is promoting this new category. They expect it to be implemented over the next few months, and they hope that the United States will follow suit.

This move towards regulation comes with increasing scrutiny of the digital assets space. As more people enter the space, there is a risk that unscrupulous players will take advantage of the unregulated digital assets market.

The regulatory framework will aim to protect consumers from fraudulent activities, which have become common in the digital assets space. Consumers must have a clear understanding of what they are purchasing when they acquire NFTs. This may be particularly important when it comes to buying NFTs that represent real-world items such as art pieces or sports memorabilia.

In conclusion, while the NFT market has been on an explosive growth trajectory, regulatory guidelines are necessary to protect customers and maintain stability. Sorare’s CEO, Nicolas Julia, has stated that his company is taking important steps towards meeting regulatory expectations ahead of potential industry reforms. This move goes a long way in building public trust and reducing the risk of a crackdown by government regulators.

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