Valued at $4.3B, NFT platform Sorare to invest in women’s sports
“We believe that NFTs can significantly accelerate the development of women’s sports,” Sorare CEO Nicolas Julia told Cointelegraph. Following a $680-million funding round, nonfungible token (NFT) marketplace Sorare is looking to be an active player in bridging the gap between sports and digital entertainment.Now valued at $4.3 billion, Sorare told Cointelegraph that the company plans to use the fresh capital to expand its business with new hires and partnerships, as well as support community-led programs. Besides working with community-led football programs aimed at helping young people....
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A major sports betting platform and NFT collection are pairing up for unique NFL player NFTs, while Sorare launches it’s beta fantasy sports platform for the NBA. These are just a couple of the biggest headlines over the past week across sports and crypto. Let’s dive into these stories and more from the past week. […]
Sorare is a football fantasy game in which participants use digital player cards to buy, sell, trade, and manage a virtual team. Sorare is where fantasy soccer and cryptocurrency meet. For soccer fans, this is a way to be competitive off the field and invest heavily right away. Users can play the game online in their browser or download the Sorare app. In this article, you will read all about what exactly Sorare is and how it works.What is Sorare?Sorare is a blockchain-based fantasy soccer game adored by many soccer fans worldwide. The founders of the platform want to give fans the....
Easily the biggest headline in sports and crypto this week? The biggest league in basketball adding another crypto partner to the rolodex with Sorare. Sorare completes the league’s ‘triple threat,’ with Dapper Labs serving as the league’s NFT distributor, and Coinbase the league’s official crypto exchange. Each weekend, we cover all of the biggest stories […]
Aside from being the first major crypto sports sponsorship in Australia, the deal will also be a first for women’s sports. In what comes as the first major crypto sports sponsorship deal down under, the Australia Football League (AFL) has secured a partnership with Crypto.com to back its women’s league (AFLW). The deal is worth close to $25 million over the next five years, a marked increase from the AFL’s existing $18.5 million sponsorship contract with Toyota. Crypto.com is a Singapore-based crypto exchange offering digital wallets and crypto-backed debit cards. The partnership will mark....
On September 21, the non-fungible token (NFT) fantasy football platform Sorare announced the company raised $680 million in a Series B funding round led by Softbank. The capital raise gives Sorare a new valuation of around $4.3 billion and the company plans to open a U.S.-based office.
Sorare Reveals $680M Capital Raise
Non-fungible token (NFT) assets have seen phenomenal growth this year and the company Sorare aims to tether the billion-dollar NFT industry to the multi-billion-dollar fantasy sports market. The market size of fantasy sports in the U.S. alone topped $8.4 billion....