![]() 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. 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 company wants to take advantage of the growth of the market to expand further within soccer and also to other sports. In the first quarter of 2021, NFT sales topped 2 billion amid a spike in interest. The fundraising round was SoftBank’s first investment in Sorare, and done via its SoftBank Vision Fund 2. Sharing is caring Facebook Twitter Pinterest LinkedIn Sorare. 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. Ryan Weeks / The Block: Paris-based Sorare, a soccer-focused NFT trading platform, raises 680M Series B led by SoftBank Vision Fund 2 at a 4. “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. Last week, Sorare announced it had raised a 680M Series B from the likes of Softbank, Bessemer, Benchmark, Accel and Blisce at a whopping 4.3B valuation (you can’t have a Softbank Vision Fund investment without a gnarly valuation). 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 French startup Sorare raised 680 million in its Series B funding round, raising its valuation to 4.3 billion. It previously raised $50 million in February 2021.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. Sorare partnered with 180 football organizations, including some of the most famous clubs in Europe, such as Real Madrid, Liverpool and Juventus. Transactions are all recorded on the Ethereum blockchain. 21, 2021 /PRNewswire/ - Sorare, the fantasy football platform, today announces that it has raised 680 million in Series B financing led by Softbank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree and existing investors Benchmark, Accel and Headline. :///games/softbank-leads-680m-funding-for-nft-fantasy-soccer-game-maker-sorare/. SoftBanks Vision Fund 2 led the 680 million round, which values the company at 4.3 billion. Sorare: A Beginners Guide To The NFT Fantasy Soccer Game. Players can buy and sell cards from other players. The NFT trading startup Sorare has closed Europes largest-ever Series B funding round. The company creates digital items known as non-fungible tokens, or NFTs, used as digitally scarce soccer card that users collect to create fantasy teams that compete weekly. Sorare, founded in 2018 and led by CEO Nicolas Julia, uses the Ethereum blockchain for generating unique digital trading cards representing professional soccer players that can be traded by users. ![]() ![]() The money was raised from investors led by Softbank via its Vision 2 fund, joined by Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP, Liontree, Benchmark, Accel and Headline. Sorare, a Paris, France-based developer of a blockchain-enabled fantasy soccer platform, announced closing a $680 million series B funding round. ![]()
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