£ 30m deal between Premier League and Sorare

Sat 29 Oct 2022 ▪ 14:00 ▪
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Mikaia ANDRIAMAHAZOARIMANANA

Although in poor condition, NFTs continue to generate general interest. Football specialists are also seduced by it. More and more football celebrities like Leo Messi have already made their leap into this universe. Lately, the Premier League has turned to this promising digital asset. And to confirm that she is really anchored there, she decides to collaborate with Sorare.

Premier League and Sorare agree on £ 30m NFT deal

Alliance between Sorare and Premier League

The Premier League is ready to agree on a £ 30m per year deal with Sorare.

Yesterday Sky News revealed the existence of an agreement between the Premier League and Sorare. This Franco-British alliance will allow the sale of non-fungible tokens, including static images of footballers like Erling Haaland and Harry Kane, to fans.

Meanwhile, the London TV channel reveals that the Premier League raised the issue last Friday during a meeting with English Premier League clubs.

None of the entities concerned, for the moment, has commented on this multi-year agreement with Sorare. Sky News has however anticipated that the amount of the agreement will amount to 30 million pounds a year and that its signing will be done shortly.

Negotiations failed with ConsenSys

The Sky News team also specified that the choice of the French start-up Sorare would be the logical continuation of a failed negotiation with ConsenSys. The latter would have succumbed to the temptation to renegotiate the initial deal due to the bear market and the NFT crisis.

For the Premier League, NFT fans and metaverse, choosing a new partner is crucial. After comparisons, its leaders would have decided on Sorare as its prices are very attractive.

Recall that Sorare is a Fantasy NFT trading platform that has already had the backing of PSG celebrity Kylian Mbappé. Softbank, the Japanese tech investor, also supports the latter. Through Sorare, it is possible for players to buy, sell, manage and trade a virtual team using digital player cards.

Is the choice of the Premier League limited to the earnings offered by Sorare? Yes and no. Indeed, this company currently has several partnerships with players from different sports disciplines. The rewards mechanism and the weekly NFT fantasy sports competitions held on the platform are a definite plus for Sorare.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day the impacts are felt on the most vulnerable economy in this world, against all hope, I will say that it has something to do with it.

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