FIFA | Crypto

Switzerland's nationwide gambling authority said that user rewards on the platform feature the element of chance, categorizing them as gambling. Switzerland’s Gambling Supervisory Authority (GESPA), the country’s gambling regulator, has filed a complaint against FIFA’s non-fungible token (NFT) platform FIFA Collect, alleging that it is an unlicensed gambling provider. On Friday, GESPA announced the complaint, alleging the platform’s “competitions,” which feature user rewards like airdrop campaigns and challenges, constitute gambling under current Swiss regulations due to the element of chance in claiming rewards. GESPA wrote: From a gambling law perspective, the offers in question are partly lotteries and partly sports betting,” GESPA said. Switzerland has only two nationwide regulated sports gambling providers, Sporttip and Jouez Sport, according to GESPA. Read more

Switzerland’s gambling watchdog is reviewing FIFA’s “Right to Buy” NFTs, while noting no wrongdoing has been alleged. Switzerland's gambling regulator is looking into whether "right-to-buy" tokens sold by global soccer organizing body FIFA ahead of the 2026 World Cup tournament comply with rules that govern gambling, Bloomberg reported. No wrongdoing has been alleged. Gespa is assessing whether the tokens, which can be bought, sold and traded on FIFA’s non-fungible token (NFT) marketplace, are gambling-like or represent conditional purchase rights. FIFA stands for Fédération Internationale de Football Association. The authority has not alleged wrongdoing nor had it received any reports of wrongdoing, and is gathering facts to determine whether any action is warranted, director Manuel Richard told Bloomberg on Monday. Read more

FIFA is migrating its NFT marketplace and collection to a new Avalanche-powered layer-1 blockchain built for digital fan experiences. The Federation Internationale de Football Association (FIFA) has selected Avalanche to power its dedicated blockchain network for non-fungible tokens and digital fan engagement, the organization announced on May 22. FIFA’s layer-1 (L1) blockchain will be powered by the Avalanche network’s scalability-focused infrastructure for the association’s five billion fans worldwide. The move comes nearly a month after FIFA announced its initial plans to launch a new network for its blockchain-based collectibles. AvaCloud’s Ethereum Virtual Machine (EVM) compatibility will enable smoother integration with decentralized wallets and applications. Read more