Sorare, the football game that allows you to collect virtual cards in the form of NFT, continues to diversify. Thanks to an agreement with the NBA, the French start-up will launch a basketball game in the fall.
For the uninitiated, Sorare is a game based on blockchain, the technology behind cryptocurrencies and non-fungible tokens (NFT). Launched in 2018, the platform makes it possible collect virtual cards with the image of several soccer players.
Each card is an NFT. It is therefore unique. It is possible to exchange it for cryptocurrencies. Most importantly, Sorare offers to put together teams with your cards. With these, you can participate in tournaments and earn points. These points give access to rare cards, which has a higher value. To win, you have to consider the actual performance of the players.
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A partnership with the NBA
Initially, Sorare was intended only for football fans. The platform has open to baseball in July 2022 through a partnership with Major League Baseball (MLB). To diversify, the French-born start-up will now expand into basketball.
In a press release published on Wednesday 7 September, Sorare announces that it has entered into a partnership with the National Basketball Association (NBA) e the National Basketball Players Association (NBPA). The operation confirms the expansion of the company in the United States “explains Sorare.
Sign up now 👉 https://t.co/kAYif7bCPI pic.twitter.com/IuDYxumAQC
– Sorare (@Sorare) September 7, 2022
As part of the deal, the blockchain platform will launch a free-to-play basketball game during the autumn. It should be available in time for the launch of the 2022-2023 NBA season, which begins October 18, 2022. The operation will be identical to that of football and baseball. Sorare clarifies that the agreement entitles him fromto use They logos officials of the NBA league, teams and players on its products.
Mbappé, Zidane, Gobert… Sorare’s renowned partners
Sorare in particular managed to make himself known thanks to prestigious partners. The start-up has agreements with more than 250 football clubs, including PSG, Olympique de Marseille, Bayern Munich and Real Madrid. Determined to continue its expansion, the start-up continues fundraiser since its creation. Last year, Sorare raised over $ 700 million in two fundraising campaigns. The company is worth approximately $ 4.3 billion.
In addition, many renowned sportsmen have invested in the project. This is the case with Kylian Mbappé, the Paris Saint-Germain striker. Last June, the athlete became the first “Ambassador player” of the French company.
Shortly after Mbappé, the illustrious Zinedine Zidane signed a partnership with Sorare. At the time of the announcement of the launch of the NBA, Sorare announced that the French Rudi Gobertone of the stars of the NBA, he is now part of the investors and ambassadors.
Two million active users
Thanks to these dimensional supports, Sorare has managed to attract two million users on its platform, four after its creation. At the same time, the price of the rarest cards has exploded. For example, a unique card with the image of Kylian Mbappé sold for 143 Ethers, which at the time represented more than 415,000 euros. We also remind you that a Cristiano Ronaldo representative card was exchanged with 150 Ethers in March 2021, or about 290,000 euros at that time.
The colossal success of Sorare has caught the attention of the National Gaming Authority (ANJ). In a warning, the regulator said the platform delivers a form of disguised sports betting.
When a company invents a new model based on emerging technology (here the web3), and it is successful, it is not surprising that it raises questions. This is one of the signs that we are shifting the lines.
– Nicola Giulia (@ ni2las) July 29, 2022
On his Twitter account, Nicolas Julia, the company’s CEO and co-founder, responded to the authority by pointing out the differences between betting and collecting cards in the form of NFTs:
” Sorare offers full ownership of trading cards to its users. This is a radical revolution, benefiting users who finally own their digital assets, which they don’t have to buy back every year. Furthermore, these cards cannot only be used on our platform, but also in a variety of third-party applications and platforms and will remain the property of users. “.
Sorare is part of it the wave of Play to earn, these video games that allow you to earn cryptocurrencies. A myriad of creators rely on blockchain to develop innovative experiences. Some of the best known include Axie Infinity, MOMO Block Brawler, Aavegotchi Or Aiming.