Sorare entered into an NFT partnership with the Bundesliga
Blockchain-based fantasy football platform Sorare has announced a partnership with the German Bundesliga to create video-based NFTs.
Sorare is now dealing with two of the world's "Big Five"
With the latest deal, fans, collectors and fantasy footballers will be able to play and trade NFTs from the Bundesliga (first division) and Bundesliga 2 (second division). This is very similar to Dapper Labs' flagship product, NBA Top Shot, but Sorare focuses on football instead of basketball. After announcing a partnership with Spain's La Liga on Sept. 9 to create NFTs of all players, Sorare is now dealing with two of the world's "Big Five" football leagues, which Sorare says have more than 3.5 billion fans worldwide"Germany usually attracts the highest average attendance in football stadiums. It is football as it's meant to be, where fans engage with their favorite players and club each weekend. We're thrilled to allow Bundesliga fans in Germany and globally to come together online and to feel ownership of the sports they love," said Sorare's CEO Nicolas Julia.
Sorare recently raised $680 million in funding.
Sorare's focus has been on fantasy football with more than 200 team partnerships. Fans purchase player cards minted as non-fungible tokens (NFTs) and use them to create a weekly lineup for fantasy games based on the player's actual performance on the field. With this successful concept, the company managed to raise $680 million in a Series B funding round at a valuation of $4.3 billion. Key investors included SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico.Meanwhile, Dapper Labs, one of Sorares' main competitors in the sector, inked a deal with the NFL to mint highlights as NFTs and closed another $205 million funding round at a $7.5 billion valuation.
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