Sorare blockchain project: billion dollar business on football cards and NFT

Football fans used to collect stickers for the Panini album, now it’s NFT time. French blockchain startup Sorare, founded only in 2018 and with just 30 employees, has perfected the collecting mechanism. Users can buy and exchange NFT cards of players from leading football clubs, and their uniqueness is guaranteed by non-fungible tokens on the Ethereum blockchain.
This project received $ 50 million in Series A funding from investors earlier this year, but now there is really a lot of money going into the project. Major investor Softbank and other players forked out a whopping $ 680 million and raised Sorare’s valuation to $ 4.3 billion. At the same time, Sorare is rated on par with European cryptocurrency non-broker Bitpanda.
This year, the startup received a $ 730 million investment, the largest investment in the crypto industry since FTX. Among other investors. Football professionals have also joined the project.
What makes the project of the two founders Nicolas Julia and Adrian Montfort so special and successful? Well, they managed to attract 180 football clubs and 20 leagues to the project, including Real Madrid, Liverpool, Bayern Munich, Bayer Leverkusen, Liverpool, Juventus, as well as the football leagues of France, Spain, Austria and Germany. They are allowed to offer digital collectible player cards, which of course will be loved by football fans. NFT owners can also regularly field five players in a fantasy tournament, and then earn points when real stars score goals in games or differ in some action in a real match.
What at first glance may seem like a gambling option for teenagers is actually huge business. Since the beginning of the year, Cristiano Ronaldo has been paid $ 250,000 for the digital image of Cristiano Ronaldo, Sorare is betting on a billion dollar soccer game, blockchain NFT trend and sports card markets ($ 5 billion), Sorare said. and fantasy sports ($ 48 billion by 2027).
Sorare’s rapid growth (the number of active and monthly paying Sorare users increased 34 times between Q2 2020 and Q2 2021, and its quarterly revenue increased 51 times over the same period) confirms the right business strategy.

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