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Blockchain fantasy football startup Sorare raises $50m, Gerard Pique & Rio Ferdinand are investors

Blockchain fantasy football startup Sorare raises $50m, Gerard Pique & Rio Ferdinand are investors

The ultimate fantasy football game

Sorare, an application which provides digital soccer collectibles in collaboration with big-name teams, has received a $50 million investment to grow its community and launch a mobile application.

Sorare is effectively a football trading card game in which individual cards are digital products which can be traded and increase or decrease in value based upon real world performances.

These cards are tradable with other players of the game, and can be sold on the marketplace. Some, such as a Cristiano Ronaldo card, have sold for more than $100,000.

Not only is the game becoming more successful, but some major names in the sporting world are getting on board with the program. Barcelona pair Gerard Pique and Antoine Griezmann have gotten involved, along with Rio Ferdinand and Andre Schurrle.

$50 million backing

The funding for the project has come from VC firm Benchmark, who back the likes of Twitter, Uber and Snapchat.

Over 120 teams from around the world are on Sorare, including many from the Premier League, Bundesliga, La Liga and Serie A. The cards can cost serious money, and increase or decrease in value

Gerard Pique has invested $4.3 million of his own money into the project, and CEO Nicolas Julia says that having players like the former Spanish international on board will help the company to get even bigger. This happened at the end of 2020, and clearly, amid the news of $50 million funding, it has worked.

“Gerard will help us strike the best deals with the biggest sport organizations in the world,” said Nicolas Julia.

With the world of Fantasy Football always growing and becoming more popular, the potential of Sorare is certainly exciting. Maybe think about picking up the latest Kylian Mbappe card?

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This article was edited by Conor Laird.

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