Cryptheory: Crypto and Internet

cryptocurrency and internet meaning, guides, learning

Mbappé invests in football fantasy game Sorare

2 min read

Blockchain-based fantasy football game focused on non-fungible tokens (NFTs), Sorare, has a new investor. This is French football player Kylian Mbappé, striker for Paris Saint-Germain (PSG).

According to a report by the Financial Times, published this Wednesday (29), Mbappé will become a brand ambassador for Sorare.

What is Sorare game?

Sorare is a fantasy football game on blockchain. The platform allows fans to collect and trade digital cards of players from teams associated with the game.

Cards are issued in the form of Non-Fungible Tokens (NFTs). In this way, players can assemble the “dream team” with the NFTs and compete with each other on the platform.

“Build strategies, create lineups and earn points based on your players’ actual performances,” says Sorare’s website.

The platform already has 245 associated teams including, for example, Barcelona, ​​PSG, Juventus, Real Madrid, Arsenal and many other global giants.

Sorare weight supporters

In December 2020, Barcelona defender Gerard Piqué was appointed strategic advisor to the Paris-based platform.

As early as September 2021, SoftBank led a $680 million funding round for Sorare. As a result, the company, which has been profitable since its launch, reached a valuation of US$ 4.3 billion.

Regarding the hype and use of NFTs on the platform, Nicolas Julia, Sorare’s chief executive, stated:

“What sets us apart is that we have a use for NFTs, which is a game. We are building a gaming company. I see technology as an enabler to deliver what we want to deliver. But it’s not the end. So you don’t see the word NFT on our product.”

Sorare targets global expansion with Mbappé

With Mbappé joining the company, Sorare hopes to increase its reach at the global level. The PSG ace has more than 80 million followers on Twitter and Instagram, compared to Sorare’s 155,000.

In addition to Mbappé and Piqué, the company also counts tennis star Serena Williams among its supporters.

Also according to the Financial Times, the company is expected to launch a virtual baseball game later this year, after closing a deal with Major League Baseball (MLB).

Learn how to create NFTs on the Avalanche network and sell them on Shopify

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *