![]() ![]() SoftBank’s Latin America fund also contributed, which Combes said was because SoftBank can use its relationships with U.S. The fundraising round was SoftBank’s first time investing in Sorare, via its SoftBank Vision Fund 2. The most expensive unique card is of Cristiano Ronaldo, which was bought for 245,072 euros ($287,420.44) on March 13. Since January 2021, there have been $150 million of sales on Sorare, which accepts payments via credit card and the cryptocurrency ether. “We believe this is a huge opportunity to create the next sports entertainment giant.” “We saw the immense potential that blockchain and NFTs brought to unlock a new way for football clubs, footballers, and their fans to experience a deeper connection with each other,” said Nicolas Julia, CEO and co-founder of Sorare. It plans to open an office in the United States and expand into sports other than soccer. Sorare is the largest sports-based NFT platform by sales volume, according to, a website which tracks NFT market data. “This evolution from physical assets to digital assets is very powerful, and creates a lot of exciting potential business models.” “We think NFTs represent a new paradigm in the collectability, usability, and engagement with assets,” Michel Combes, president of SoftBank Group International, said in emailed comments. The market for NFTs has seen explosive growth in 2021, with collectible and sports-related the most popular types of token. The cards are traded in the form of non-fungible tokens ( NFTs), a kind of crypto asset which records the ownership status of digital goods on the blockchain. Paris-based Sorare said the investment valued the company at $4.3 billion.įounded in 2018, Sorare is an online game where players buy officially licensed cards representing soccer players and build teams which play against each other, with the outcome based on the players’ performance in real-life games. The platform is already host to NFTs from some of Europe’s most popular teams, including Bayern Munich, Juventus, Real Madrid and Liverpool.LONDON – Blockchain-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 Gerard Pique also investing, the company said on Tuesday. 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. “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. New investment brings company value to $4.3 billion with plans to conquer the U.S. ![]()
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