![]() ![]() 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. companies are more about collectibility, so no, I’m not worried about them competing in the European market.” “We are the only ones that have bridged the gap between the game, collectibility and utility over the lifetime of sports NFTs,” Thibaut told CoinDesk in an interview. ![]() Thibaut Predhomme, head of operations at Sorare, is not worried about having to compete on their own turf. companies will look to take market share of the lucrative European soccer NFT space, and vice versa. The company is eyeing basketball, American football and baseball as the next targets for its current model, a representative told CoinDesk in an interview.Īs the global sports NFT market continues to mature, U.S. The number of monthly active paying Sorare users grew by 34X between Q2 2020 and Q2 2021, with quarterly sales increasing by 51X over the same period. ![]() The Paris-based company says it will use the new funds to accelerate growth and venture outside the touch lines of soccer collectibles.ĬEO Nicolas Julia said in a press release he sees an opportunity to “introduce the same proven model to other sports and sports fans worldwide” and will be opening a U.S. Sorare says it’s traded over $150 million worth of digital cards on its platform since January and currently has over 600,000 registered users.įrom Q2 2020 to Q2 2021, the company saw its sales increase 54x from the previous year. The funding round values the company at $4.3 billion. The round’s lead investors include SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico. The European fantasy soccer and digital collectible platform announced a $680 million Series B raise on Tuesday, the largest ever in the non-fungible token (NFT) space. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organisations, and to introduce the same proven model to other sports and sports fans worldwide,” Sorare co-founder and CEO Nicolas Julia said.Sorare is taking on the future of sports NFTs with record-setting support. We are thrilled by the success we have seen so far, but this is just the beginning. “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. Sales have grown by 51x between the second quarter of 2020 and the second quarter of 2021. There are currently 600,000 registered users and 150,000 users who are buying a card or composing a team every month. While the volume of transaction is quite big, there is still a lot of potential for user growth. Sorare, a Paris, France-based developer of a blockchain-enabled fantasy soccer platform, announced closing a 680 million series B funding round. Sorare doesn’t take a cut on player-to-player transactions right now. A total of $150 million worth of cards have been traded on the platform since January. That’s why players often buy and sell cards from other players - there are even third-party websites that help you track auctions. Over time, the value of a card can go up or down. They can also manage a squad of players and earn points based on real-life performances. Players can then buy those new cards and add them to their collection. Sorare generates revenue by issuing new cards on the platform. Some of the startup’s existing investors are also investing once again, such as Benchmark, Accel, Headline and various business angels. In addition to SoftBank’s Vision Fund team, Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree are also participating in the round. You can expect more partnership announcements with professional sports organizations in the future. With today’s funding round, the company plans to expand to new sports, open an office in the U.S., hire more people and invest in marketing campaigns. It creates a barrier to entry for other companies in the space. What makes Sorare unique is that it has partnered with 180 football organizations, including some of the most famous clubs in Europe, such as Real Madrid, Liverpool and Juventus. Transactions are all recorded on the Ethereum blockchain. Players can buy and sell cards from other players. Each digital card is registered as a unique token on the Ethereum blockchain. Sorare has built a fantasty football (soccer) platform based on NFTs, or non-fungible tokens. SoftBank’s Vision Fund 2 has led a $680 million Series B round, which values the company at $4.3 billion. French startup Sorare has announced that it has raised a significant funding round.
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