![]() The companies that chose to invest in the round include SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico. With big domestic markets such as the NBA, NFL and MLB, there are definite market shares to take using the already proven business model. In a company press release, CEO Nicolas Julia opens up about the plans to enter the U.S. With the new investment at hand, Sorare plans to use the money to accelerate growth and venture outside the world of football. The most expensive card is of Cristiano Ronaldo, which was sold for 245,072 euros ($287,420.44) on March 13. The NFT market has exploded during 2021, making collectible and sports-related NFTs more popular than ever.Ĭurrently having as many as 600,000 registered users, Sorare says it has traded as much as $150 million in digital cards since January. The outcome is based on the players’ performance in real-life games, connecting fantasy with real life. The Paris based fantasy football and digital collectible platform just announced a $680 million Series B raise, the largest ever in the NFT space.įounded in 2018, Sorare is an online game where players buy officially licensed cards representing football players used to build teams where fantasy league players compete against each other. Sorare is one of the best to ever do it and is the largest sports-based NFT platform by sales volume, according to. However, it’s not only played on the green field as the market for fantasy play is bigger than ever. With an estimated following of 4 billion people, it is dominating all sports in South America, Africa and Europe. No matter how you twist and turn things, the biggest and most popular sport in the world is football. We are innovative, and have built a model that has set the foundations for the next sports entertainment giant.New investment brings company value to $4.3 billion with plans to conquer the U.S. “We now have over 180 clubs, 6,000 licensed footballers, and 600,000 registered users and we’re only getting started. “In 2021, more footballers, clubs and football fans around the world embraced Sorare’s NFT fantasy model and discovered a new and deeper connection with football,” Julia wrote. All entered teams get ranked against one another in a leaderboard, based on the players’ performance in real-life games.Įarlier this month, Sorare announced a partnership with Spain’s top professional men’s football league, La Liga, to launch NFTs for all of its players – allowing gamers to trade and play with digital cards of the players in the league.Ģ021 has been a good year for the Paris-based gaming start-up that was founded in 2018 by Julia and his colleague and CTO Adrien Montfort. In Sorare, users create teams consisting of five players to enter tournaments in the fantasy game. ![]() These digital cards will be unique, scarce and publicly verifiable using blockchain tech. These can be used to represent a unique digital item such as photo files, video clips, the world wide web’s source code or, in this case, a digital football card. NFTs, or non-fungible tokens, are units of data on a digital ledger, which are verified using blockchain technology. They were joined by existing investors Benchmark, Accel and Partech, and Reddit co-founder Alexis Ohanian, as well as football players Gerard Piqué, Rio Ferdinand, Antoine Griezmann and César Azpilicueta. ![]() He also said the start-up was committed to use the funding to support community-led football programmes for people from disadvantaged backgrounds, back small businesses in sport and gaming with funding, and invest in women’s football to increase female representation in the sport.Īpart from SoftBank, some new investors to chip in for Sorare’s latest funding include Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree. Julia said that Sorare will use the investment to hire new talent, sign new partnerships with football leagues, focus on a mobile-first experience and expand into new sports in 2022. ![]() “This fundraising will help deliver our key objective: to create the next world champion in sports entertainment, by leveraging NFTs.” “The record-breaking Series B is a huge statement of intent that will greatly improve our NFT fantasy gaming experience for millions of sports fans,” co-founder Nicolas Julia said in a blog post. The NFT-based fantasy football game that raised $50m in its Series A in February is reportedly valued at $4.3bn after the latest investment. The Paris-based start-up will use the SoftBank-led funding to make new hires, partner with new football leagues and expand into new sports.įrench gaming start-up Sorare has raised a record $680m in Series B funding led by SoftBank. ![]()
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