Swiss Gambling Authorities Charge FIFA World Cup NFT Platform
The Swiss Gambling Supervisory Authority (Gespa) has filed a criminal complaint against FIFA Collect, an NFT platform linked to the FIFA World Cup, for allegedly violating Swiss gambling laws.
Key Points
- Gespa's investigation found that collect.fifa.com operated without a license, offering gambling-style services such as entry fees for digital "drops" and "challenges" with winners selected by chance.
- These activities fit Swiss legal definitions of lotteries and sports betting, requiring regulatory authorization.
- Switzerland's public prosecutors will handle the legal proceedings, potentially involving Gespa for technical support.
- Despite the investigation, FIFA Collect remains operational. The platform mints NFTs and offers fans collectibles, exclusive rewards, and match tickets.
- To date, 2,257,257 NFTs have been minted, totaling $52 million in volume. September saw a peak in sales, driven by the Ballon d'Or 2025 ceremony.
- Swiss regulatory stance on cryptocurrencies is positive, with recent licenses granted to DLT trading facilities by FINMA.
Market Reactions
- Legal scrutiny in the NFT space is causing traders to explore high-risk options like memecoins.
- The Maxi Doge presale raised over $3.5 million, nearing its $3.8 million target, appealing to traders with its 1000x leverage option.