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Sorare: $4 million for the fantasy football blockchain project
Sorare: $4 million for the fantasy football blockchain project
Blockchain

Sorare: $4 million for the fantasy football blockchain project

By Marco Cavicchioli - 16 Jul 2020

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The Sorare blockchain project has launched a $4 million fundraiser led by e.ventures, underwritten by companies like Partech and Fabric Ventures, funds like Semantic Ventures and investors like German world champion André Schürrle. 

The Sorare platform delivers a blockchain-based digital fantasy football that is achieving widespread success, supported by more than 70 professional football teams globally, including Juventus, Atletico Madrid, Lazio, and others. 

In the last 6 months, the company has multiplied its sales by ten, going from $30,000 in December 2019 to $350,000 in June 2020, so much so that it has now reached the goal of $1 million of digital figurines sold in one year in 50 countries. 

The new investments will allow the company to hire 10 more people by the end of 2020 to meet the 1,000% growth in demand over the past year. 

In addition, by the end of 2020, Sorare would like to finalize partnership licenses with 5 leagues and 150 professional clubs worldwide, of which 5 only in Italy.

Sorare’s digital figurines, with which it is possible to play an online version of fantasy football, are officially licensed, and allow users to own and exchange the cards of different players of the teams that have already joined the initiative. 

The company has also created an online marketplace where users can freely buy and sell their limited edition digital collectable cards. 

These are in fact NFT cards issued on the Ethereum blockchain, allowing users to determine at any time who owns them, and their rarity, in order to guarantee a high level of freedom and confidence to the players.

In addition to those already mentioned above, other famous football teams have already joined the initiative, such as Roma, Bayer Leverkusen and Olympique Lyonnais. 

The game was launched in March 2019 by two experienced entrepreneurs, Nicolas Julia and Adrien Montfort, who recognized the potential of blockchain technology to create a new category in sports games. 

The CEO of Sorare, Nicolas Julia, said: 

“People are buying $370 billion of collectibles per year. Sorare’s mission is to make fantasy football global and rewarding with a new kind of collectibles: digital football cards. We are creating the easiest way for football fans to leverage their football knowledge and play with skin in the game. We are delighted to be backed by an incredible syndicate of investors who will help us drive the adoption of fantasy football forward”.

The 2014 World Champion with the German national team, Andre Schürrle, commented:

“As a kid, I loved collecting my favorite football players in the Panini albums. When I met Nicolas and Adrien, I was immediately impressed with the vision for the future of football collectibles: digital cards of football players that you can use in a fantasy sports game. The cards are beautiful, the fantasy game is for fans that love this amazing game all around the world. I will be helping them along the journey to build the most exciting fantasy football game”.

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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