Swiss Regulator Probes FIFA's Blockchain Tickets Amid Gambling Fears
Swiss regulator Gespa has launched a preliminary probe into FIFA's new blockchain-based ticketing system, questioning whether it crosses into gambling territory. The investigation focuses on FIFA's 'Right-to-Buy' (RTB) tokens, which grant holders a conditional right to purchase tickets for the 2026 World Cup, but only if their chosen team qualifies.
The RTB tokens, priced up to $999 each, have raised around $15 million in sales since their launch. Holders can trade these non-fungible tokens (NFTs) on FIFA's official marketplace, creating a secondary speculative market. Already, tokens for eight teams, including high-profile sides like Brazil and England, have sold out.
Crypto analyst Marc Steiner has raised concerns about the model, stating it 'introduces speculative behavior under the guise of digital fandom'. He estimates a potential loss ratio exceeding 80% if most teams fail to qualify, leaving token holders with assets of little or no value. Critics warn the scheme resembles a lottery-like gamble.
Gespa director Manuel Richard confirmed the investigation, noting that regulators are not yet satisfied the product falls outside gambling law. The probe was initiated due to the model's structure raising legal uncertainty, despite no formal complaints being filed. The identity of the person leading the investigation has not been specified.
Gespa's preliminary probe into FIFA's blockchain-based ticketing system highlights the legal uncertainty surrounding the 'Right-to-Buy' tokens. With millions raised and high-profile teams' tokens already sold out, the outcome of this investigation could significantly impact the future of such token-based systems in sports.
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