Lionel Messi Takes Stake In Sorare

Gm and open wide, here comes your daily dose of NFT news! 💊

What The Heck Is Going On?

• Lionel Messi Takes Stake In Sorare ⚽

• Trademarks Filed For NFTs In 2022

• Bank of Russia Suggests NFT Regulations 🏦

• What The Meme?

Lionel Messi Takes Stake In Sorare

Soccer star Lionel Messi is joining Sorare, the French nonfungible token trading game, as an investor and brand ambassador.

Messi has taken an equity stake in Sorare as part of the deal, the company said, without expanding on the size of his holding or other terms. Nicolas Julia, Sorare’s CEO and co-founder, said the partnership with Messi marked a “huge milestone” for the company.

Sorare lets users trade digital player cards and manage teams of five in fantasy soccer tournaments. The cards are themselves NFTs.

The Paris-based startup, which was last valued at $4.3 billion, has more than 2 million users in over 185 countries and is partnered with over 300 sports teams and leagues including Spain’s La Liga and Germany’s Bundesliga. It has expanded beyond its core focus on soccer recently into other sports, including basketball and baseball.

⚽

Trademarks Filed For NFTs In 2022

🔥

Bank of Russia Suggests NFT Regulations

Russia could create more detailed rules for taxing digital securities and utility tokens, but already has a sufficient regulatory environment to create a legitimate market for digital assets, the country's chief financial regulator said in a new consultative report published on Monday.

Digital assets may be regulated similarly to the traditional securities, in those cases when they have similar properties, the report says. However, if the underlying technology allows to manage consumer risks, a new regulatory approach can be developed, different from the one already in force for the securities market, the report said. The document mostly covers matters related to the digital assets issued in Russia according to the 2020 law On the Digital Assets.

The document suggests developing more detailed rules addressing the taxation of digital securities and utility tokens, as well as legal framework for tokenizing securities, debt, precious metals and stones, and issuing non-fungible tokens (NFT) that certify property rights.

🏦

What The Meme?

That's all folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.