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Sorare NFT fantasy football maker secures $680 million funding

- Advertisement -Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM
Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM

Recently, the combination of blockchain and fantasy sports have garnered a lot of interest and one of the leading NFT fantasy football game platforms is Sorare.

The platform has received a $680 million investment from SoftBank. The amount of money that investors are investing in the game genre is a testimony to its popularity and potential.

Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM

The European company is based in Paris and this is was the biggest second series B for them.

- Advertisement -Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM
Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM

With the amount secured, Sorare plans to hire new staff and build on to their products. The company has plans to expand to the US. The head of operations at Sorare, Thibaut Predhomme talked about the future plans of the company in an interview with GamesBeat.

What is interesting to note here is that Sorare is not exactly a big company with hundreds of employees. It is functioning with only 30 employees at present.

The big investment inevitably drew compariso with Electronic Arts, the team behind the most popular soccer game of all time, FIFA. Despite being one of the biggest game developing company in the world, Electronic Arts has not yet made the connection between block chain and fantasy sports game.

Thibaut thinks that the game brings fans closer to the players as it is based on the players real life performance. “It’s really about creating meaningful connections using the cards. The magic happens at the intersection of collectibility and sports,” he said. “It’s based on the real-life performance of the players, and through this game, fans can actually connect with the players and what’s happening in real life.”

The game is entirely based on cards. Fans buy cards of their favourite players. Unlike other soccer games where fans have to pay a certain fee to enter competitions or spend money on upgrades to reach a certain rank, NFT does not require fans to pay a single dime to partake in competitions.

The real life performance aspect of the game increases engagement levels.

Take for example, if Lionel Messi scores in the live game, he is going to score in the NFT game as well. So if a fan holds a Lionel Messi card, he or she is going to earn points.

- Advertisement -Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM
Sorare NFT fantasy football maker secures $680 million funding - THE SPORTS ROOM

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