Sorare is roaring
The soccer NFT platform has been on a funding streak since September for its Series B. Yesterday, it has raised $680 Million from ESPN, DraftKings execs valuing the company more than $4 Billion
Sorare is a fantasy football game based around Blockchain, where users can trade player cards, enter tournaments & compete for prizes worth thousands of pounds. Here comes the interesting part, cards are limited in supply, meaning that owning the best players is rewarding, both on the pitch and when trading.
Each digital card is a unique token on the Ethererum blockchain. All the transactions are recorded on the ETH blockchain. The franchise has already got an endorsement from 141 football clubs.
“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. We are thrilled by the success we have seen so far, but this is just the beginning. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organizations, and to introduce the same proven model to other sports and sports fans worldwide,” Sorare co-founder and CEO Nicolas Julia said.
The funds are mainly used to expand the team and in getting big names to their company.