![]() The company has over 600,000 registered users. Furthermore, Sorare highlighted the substantial growth of its NFT fantasy model and mentioned that the platform now has more than 180 clubs. The overall demand for sports-related NFTs has reached a record high in the first 8 months of 2021. In 2021, the popularity of NFTs has increased significantly. New investors have backed us with a record-breaking fundraising round of $680 million, the largest in the history of French Tech and the largest in Europe for a Series B,” Nicolas Julia, Co-Founder and CEO of Sorare, commented. Because of our shared passion for the beautiful game, creating a fantasy football product was the perfect place to begin our journey. “When my co-founder and I first laid out our vision for Sorare in the summer of 2018, our ambition was to create a new game that could unlock the limitless potential of non-fungible technology. 2023 Digital Banking Trends and the Future of Banking.Binance Taps TradingView for Spot Trading Integration.In order for a funding round to take place, a valuation must be performed by analysts for the business While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. Startups look to raise capital can participate in a funding round. Read this Term-based football gaming and non-fungible token platform, announced today that it has secured $680 million in the Series B Funding Round ![]() Because a blockchain is stored across a network of computers, it is very difficult to tampe The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Other investors in Sorare’s raise include venture capital firms Accel and Bessemer Ventures, as well as the footballers Pique, Ferdinand, France’s Antoine Griezmann and Spain’s Cesar Azpilicueta.Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. It also led investment in the NFT marketplace OpenSea in July and invested in the decentralised finance platform Juggernaut in March. This is not SoftBank’s first foray into NFTs. ![]() The fundraising round was SoftBank’s first investment in Sorare, and done via its SoftBank Vision Fund 2. The most expensive unique card is of Cristiano Ronaldo, which was bought for 245,072 euros ($287,420.44) on March 13. Since January 2021, there have been $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,” Nicolas Julia, CEO and co-founder of Sorare, said. It plans to open an office in the United States and expand into sports other than soccer. 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. The market for NFTs has seen explosive growth in 2021, with collectible and sports-related ones 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 blockchain. Paris-based Sorare said, in the announcement on Tuesday, that the investment now valued the company at $4.3 billion.įounded in 2018, Sorare is an online game where players buy officially licensed cards representing soccer players and build teams which play against each other, with the outcome based on the players’ performance in real-life games.Īlso on AF TV: Evergrande debt crisis explained Japan’s SoftBank has led a £680-million funding round for blockchain-based fantasy soccer game Sorare, with players including ex-England star Rio Ferdinand and Spain’s Gerard Pique also investing. ![]()
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