{"id":10418,"date":"2021-09-21T07:17:20","date_gmt":"2021-09-21T06:17:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10418"},"modified":"2021-09-21T07:38:37","modified_gmt":"2021-09-21T06:38:37","slug":"nft-fantasy-soccer-game-sorare-raises-680-million-from-funding","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nft-fantasy-soccer-game-sorare-raises-680-million-from-funding\/","title":{"rendered":"NFT fantasy soccer game Sorare raises $680 million from funding"},"content":{"rendered":"\n
Following the recent funding round of $680 million, Sorare is now valued at $4.3 billion<\/a>. With the funds, the platform plans to delve into other sports, onboard women\u2019s soccer teams, and open a U.S. office.<\/h5>\n\n\n\n
\"Sorare<\/figure>\n\n\n\n

Sorare, an Ethereum-based fantasy soccer game\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> based on NFT trading cards, has seen a considerable increase in player numbers and trading volume in 2021, not to mention the addition of hundreds of additional licensed teams.<\/p>\n\n\n\n

With the news of a $680 million investment round today, the French business put an exclamation point on its upward trajectory.<\/p>\n\n\n\n

The $680 million Series B financing, which follows a $50 million Series A round disclosed in February, values the company at $4.3 billion.<\/p>\n\n\n\n

SoftBank led the funding round<\/h2>\n\n\n\n

SoftBank, a Japanese tech and investment corporation, led this new Series B funding. SoftBank has a variety of current crypto sector contacts, primarily through its SBI Holdings financial services branch<\/a>.<\/p>\n\n\n\n

Sorare is now focused solely on soccer, with more than 175 licensed clubs included in the game. Sorare includes popular clubs like as FC Barcelona, Juventus FC, and Paris Saint-Germain FC, as well as the Major League Soccer Players Association in the United States\u2014but only the players, not the teams.<\/p>\n\n\n\n

Sorare's co-founder and CEO, Nicolas Julia, told Decrypt this week that the company aims to expand into other sports.<\/p>\n\n\n\n

In the coming months, it will also build a US office to \u201cassist us in continuing to expand with fans and sports leagues\u201d in the US, he said.<\/p>\n\n\n\n

Julia stated, “We have lofty aspirations to continue building Sorare into a sports entertainment giant.” \u201cThe new capital will be used to help us continue to build a world-class team<\/a>, expand to new leagues and sports, and improve our user experience, including the launch of a mobile app,\u201d says the company.<\/p><\/blockquote>\n\n\n\n

Sorare and NFTs<\/h2>\n\n\n\n

Sorare is based on NFTs based on professional athletes, similar to Dapper Labs' NBA Top Shot. An NFT functions as a deed of ownership for a digital item that is proven to be scarce.<\/p>\n\n\n\n

In the case of Sorare, it's a digital trading card that can be purchased and exchanged, with limited amounts of each accessible. In March, for example, one such NFT card sold for roughly $290,000 in ETH.<\/p>\n\n\n\n

Sorare, unlike Top Shot, features a continuous gaming component. It's similar to other fantasy sports in that you can select a weekly lineup of professional athletes<\/a> and compete in leagues with other users, collecting points based on your players' real-world performances.<\/p>\n\n\n\n

Only the player cards you own can be used to assemble your squad in Sorare, although there are incentives in the form of rare cards and ETH.<\/p>\n\n\n\n

Sorare has seen more than $150 million in trade volume since the beginning of 2021, according to the business, and has more than 600,000 registered users.<\/p>\n\n\n\n

Sorare wants to bring in the top 20 soccer leagues and top 50 soccer associations from around the world, as well as women's soccer clubs to join the men's teams.<\/p>\n\n\n\n

New investors Atomico, D1 Capital, Bessemer Ventures, Eurazeo, IVP, Hillhouse, and Liontree, as well as previous Sorare investors Accel, Benchmark, and Headline, participated in the $680 million Series B investment<\/a>, which Sorare named Europe's largest to date.<\/p>\n\n\n\n

Gerard Piqu\u00e9, Antoine Griezmann, Rio Ferdinand, and C\u00e9sar Azpilicueta, all professional soccer players, also invested in this round.<\/p>\n\n\n\n

In February, famous investors such as entrepreneur and NFT enthusiast Gary Vaynerchuk, as well as Seven Seven Six founder and Reddit co-founder Alexis Ohanian, participated in the Series A investment.<\/p>\n\n\n\n

Sorare also has a good relationship with Ubisoft, a renowned video game publisher. The company participated in Ubisoft's Entrepreneurs Lab accelerator program, and the two firms collaborated on One Shot League, a Sorare offshoot game based on Belgium's Jupiler Pro League, this spring.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the recent funding round of $680 million, Sorare is now valued at $4.3 billion. With the funds, the platform plans to delve into other sports, onboard women\u2019s soccer teams, and open a U.S. office. Sorare, an Ethereum-based fantasy soccer game based on NFT trading cards, has seen a considerable increase in player numbers and […]<\/p>\n","protected":false},"author":12,"featured_media":10424,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23,62],"tags":[4531,4392,470,4530],"class_list":["post-10418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","category-nft-news","tag-fantasy-soccer-game","tag-fundraiser","tag-nfts","tag-sorare"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/NFT-fantasy-soccer-game-Sorare-raises-680-million-from-funding.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10418"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10424"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}