![]() The fundraising round was SoftBank’s first investment in Sorare, and done 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,” Nicolas Julia, CEO and co-founder of Sorare, said. 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. The market for NFTs has seen explosive growth in 2021, with collectible and sports-related ones 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 blockchain. Paris-based Sorare said, in the announcement on Tuesday, that the investment now 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.Īlso on AF TV: Evergrande debt crisis explained Other investors in Sorare’s raise include venture capital firms Accel and Bessemer Ventures as well as footballers Pique, Ferdinand, France’s Antoine Griezmann and Spain’s Cesar Azpilicueta.Japan’s SoftBank has led a £680-million funding round for blockchain-based fantasy soccer game Sorare, with players including ex-England star Rio Ferdinand and Spain’s Gerard Pique also investing. This is not SoftBank’s first foray into NFTs: it also led investment in the NFT marketplace OpenSea in July and invested in the decentralised finance platform Juggernaut in March. SoftBank’s Latin America fund also contributed, which Mr Combes said was because SoftBank can use its relationships with US and Latin American football leagues and its investment in broadcaster Televisa-Univision, to increase Sorare’s user base there. 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 (S$388,482) on March 13. Since January 2021, there have been US$150 million of sales on Sorare, which accepts payments via credit card and the cryptocurrency ether. “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 football. ![]() “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 US$4.3 billion.įounded in 2018, Sorare is an online game where players buy officially licensed cards representing football players and build teams which play against each other, with the outcome based on the players’ performance in real-life games. Blockchain-based fantasy football game Sorare has raised US$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. ![]()
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