The platform is already host to NFTs from some of Europe’s most popular teams, including Bayern Munich, Juventus, Real Madrid and Liverpool. Sorare raised a $50 million Series A last February, led by venture capital firm Benchmark. and Latin American football leagues and its investment in broadcaster Televisa-Univision, to increase Sorare’s user base. Combes revealed that SoftBank can use its relationships with U.S. LONDONBlockchain-based fantasy soccer game Sorare has raised 680 million in a funding round led by SoftBank, with players including ex-England international Rio Ferdinand and Spain’s. “We think NFTs represent a new paradigm in the collectability, usability, and engagement with assets,” said Michel Combes, president of SoftBank Group International.Īs a first time investor in Sorare, SoftBank’s Latin America fund also contributed. 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. The platform had a card sales volume of over $150 million since January 2021 across 170 countries.New investment brings company value to $4.3 billion with plans to conquer the U.S. The company has over 600,000 registered users on the platform and has licensed players from over 180 football organizations, including Real Madrid, Liverpool, Juventus, the French and German Football Federation. Managers compete against each other to collect these scarce cards on the Sorare Marketplace.Ĭards are NFTs, meaning each card is unique, scarce, and its ownership is publicly verifiable via the Ethereum blockchain. Cards come in different scarcities: Each football player has 1000 Limited cards, 100 Rare cards, 10 Super Rare cards, and a single Unique card. The higher a Manager’s position in a leaderboard, the better the card prizes they earn. Based on the players’ performance in real life games, all entered lineups get ranked against one another in a leaderboard. Managers enter these lineups in different tournaments, each with their own entry requirements such as the age of the players or the region their club plays in. Sorare also plans to open its first US office soon and to launch new initiatives to support sports activities for young people and fund other startups in the ecosystem.įounded in 2018 and Nicolas Julia, CEO, Sorare allows users, called Managers, to create lineups consisting of 5 players: a goalkeeper, a defender, a midfielder, a forward, and one other outfield player. The company intends to use the funds to accelerate growth within football while also replicating its model in other sports, expand its team by hiring across key roles, and launch marketing campaigns with partners, athletes, and media companies. In addition to the investment, Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, will join Sorare’s Board of Directors. The round was led by Softbank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree and existing investors Benchmark, Accel and Headline, as well as football players Gerard Piqué, Antoine Griezmann, Rio Ferdinand and César Azpilicueta. Sorare, a Paris, France, NFT-based fantasy football platform, raised $680m in Series B financing giving it a new valuation of $4.3 billion.
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