Swiss gambling regulator reports FIFA NFT platform

The Swiss gaming regulator Gespa has filed a criminal complaint against FIFA's NFT platform. According to a statement published on October 17, suspicions have been confirmed that “unlicensed gambling services” are being operated “in connection with the blockchain-based platform FIFA Collect,” which are illegal under Swiss law.
FIFA Collect was created in 2022 as part of a collaboration between FIFA and the blockchain company Algorand. Through the platform, FIFA distributes digital collectibles for major tournaments such as the World Cup.
According to Gespa, the products sold are “partly lotteries and partly sports betting.” The final criminal assessment rests with the law enforcement authorities.
The online platform collect.fifa.com offers “various competitions – such as 'Drops' or 'Challenges' – in connection with so-called collectibles.” These are sold as non-fungible tokens (NFTs). According to Gespa, participation is only possible for a cash stake, “whereby monetary prizes can be earned.” The prizes are awarded randomly.
The gambling regulator said it became aware of the offer at the beginning of October. The authority declined to provide further details, citing ongoing proceedings.

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