Gespa, Switzerland’s gambling authority, has begun a preliminary probe into FIFA’s new “Right-to-Buy” blockchain collectibles, aiming to determine whether the soccer governing body has complied with local gambling laws, according to a report from Bloomberg.
The “right-to-buy” (RTB) collectibles, offered via the FIFA Collect platform, provide users the option to purchase tickets to the upcoming 2026 World Cup to be hosted in North America. The collectibles are initially sold directly by FIFA, but can be resold on the secondary marketplace.
“Our mission is to bring fans closer to the game they love. By introducing Right-To-Buy on FIFA Collect, we are offering supporters a new and more direct way to be part of FIFA World Cup 26™, turning digital collectibles into real-world opportunities,” said Modex Technologies Chief Marketing Officer Antonio Lorenzon at the time of RTB launch in late September.
Modex is FIFA’s exclusive partner and collaborator on its digital collectibles platform.
According to statements gathered by Bloomberg, Gespa is performing further fact-finding to determine whether or not any regulatory action is necessary.
FIFA Collect users can find RTB collectibles in surprise packs or purchased directly from the secondary marketplace, with current prices for the option to buy one ticket to a match game in Houston for $149, more than $1,200 for the right to buy tickets to Canada’s first match, and as much as $7,000 for the right to buy opening tickets to the first match at Mexico’s Azteca Stadium.
Holding the collectible ensures users are not subject to the general queue of ticket buyers when tickets go live. However, they will still need to pay for the tickets to their respective match, as the collectible merely provides the option to purchase.
Official tickets to the World Cup are being sold in phases, with the Visa Early Presale taking place in mid-September. The next phase will occur at the end of October, with other draws and sales taking place throughthe end of the tournament.
A selection of tickets have been set aside specifically for FIFA Collect users.
FIFA Collect was originally developed on Algorand in 2022, but earlier this year FIFA announced its departure from the proof-of-stake blockchain.
In May, it announced it would build its own Avalanche layer-1 network to power its platform, enhancing the digital collecting and “immersive fan experiences” it could provide.
Representatives for Gespa and FIFA Collect did not immediately respond to Decrypt’s request for comment.
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Read the full article here
Verify the accuracy of this article using AI-powered analysis and real-time sources.
Enter your email to receive detailed fact-checking analysis
You've used your 5 free reports. Sign up for unlimited access!
Already have an account? Sign in here
The FSNN News Room is the voice of our in-house journalists, editors, and researchers. We deliver timely, unbiased reporting at the crossroads of finance, cryptocurrency, and global politics, providing clear, fact-driven analysis free from agendas.
We and our selected partners wish to use cookies to collect information about you for functional purposes and statistical marketing. You may not give us your consent for certain purposes by selecting an option and you can withdraw your consent at any time via the cookie icon.
Cookies are small text that can be used by websites to make the user experience more efficient. The law states that we may store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies, we need your permission. This site uses various types of cookies. Some cookies are placed by third party services that appear on our pages.
Freedom Index