In recent years, the non-fungible token (NFT) market has grown exponentially, with more and more companies entering the space. However, with this growth comes the need for regulation, and France is one of the countries that has taken a particularly strong stance on NFTs. To comply with French regulations, Sorare, a fantasy soccer NFT platform, has launched an innovative entry method.

Sorare is a fantasy soccer game that allows users to collect, trade, and manage digital player cards. Each card is an NFT, and the game is powered by Ethereum blockchain technology. As part of its compliance with French regulations, Sorare has launched a new entry method that requires users to complete a KYC (Know Your Customer) process before they can access the platform. This process includes verifying a user’s identity and address, as well as confirming their age.

The KYC process is designed to ensure that users are over 18 years of age and are located in France. This is important because French regulations prohibit minors from participating in NFT activities. Additionally, Sorare has implemented a system that requires users to deposit funds into their accounts before they can purchase or trade NFTs. This is to ensure that users are not using the platform for money laundering or other illicit activities.

The launch of Sorare’s innovative entry method is a major step forward in helping the company comply with French regulations. It also serves as a reminder that companies operating in the NFT space must take regulatory compliance seriously. By implementing these measures, Sorare is setting an example for other companies in the industry and demonstrating its commitment to responsible NFT operations.