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 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 football. 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 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. We’re pleased to be joining them on this journey and are really excited to see what the company will achieve in its next phase of growth.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. It’s evident from Sorare’s amazing growth this year alone that football fans around the world have been eagerly waiting for the “game within the game” that Sorare provides. “Sorare sits at the intersection of two really exciting industries in digital collectibles and fantasy sports. Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, said: The latest funding round which was led by SoftBank also seen participation from other prominent investors Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree along with the existing investors Benchmark, Accel and Headline. Sorare says the round is the largest Series B to date for a European startup, which now brings Sorare’s valuation at $4.3 billion.įounded in late 2018, the company previously raised just over $50 million, with most of that coming from a $50 million Series A round in February. Read Also: What is RealFevr? An Exciting NFT Platform for Football Lovers Sorare Series B Funding The company says it now has over 180 clubs, 6000 licensed athletes, and 600,000 registered users on its platform. Based in Paris, Sorare is funded by a world-class team including Benchmark, Accel Partners, Headline, and footballers Gerard Piqué, Antoine Griezmann and Rio Ferdinand. ![]() The platform had a card sales volume of over $130m since January 2021 across 160 countries. ![]() Sorare is transforming online sports fandom and giving its community a new way to connect to the clubs and players that they love. Read Also: Innovative Blockchain Tech Applications Lead to Rise of NFTs Through blockchain digital collectibles and its global fantasy football, the company is on a mission to become ‘the game within the game’. Sorare operates at the intersection of the NFT, sports cards, and global fantasy sports. Sorareįounded in 2018, Sorare was created by football fans for football fans. Paris-based NFT Startup Sorare, developer of a global fantasy soccer game where players can buy, trade and play with official digital cards, raises $680 million in a Series B Funding round led by SoftBank.
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