The Ethereum game NFT Fantasy Football Sorare has just raised $ 680 million and is now valued at $ 4.3 billion when its U.S. office opens.
The fantasy football Ethereum NFT game Sorare raised $ 680 million and the French startup is now planning to expand into other sports as well as women’s football teams on board and in the US office. Sorare is an Ethereum based fantasy soccer game based on NFT trading tokens that has grown significantly in 2021 with its elevated platform and huge trading volume, not to mention new licensed teams in the future. Today, however, the startup is taking advantage of momentum by announcing a new round of financing.
A $ 680 million Series B round valued the company at $ 4.3 billion after a $ 50 million Series A round and a new set of rounds under the direction back in February The leading consortium announced the crypto industry through its financial services division SBI. Sorare focuses on football, with players from over 175 licensed clubs such as FC Barcelona, Juventus FC and Paris Saint Germain FC being the most popular. Nicolas Julia, Sorare’s co-founder and CEO, said this week the company plans to expand into other sports and will open a US office in the coming months to “keep growing”. He continued:
“We have ambitious plans to develop Sorare into a giant in sports entertainment. The new funding will be used to help us further grow a world-class team, expand into new leagues and sports, and further improve our player experience, including delivering mobile applications. “
Dapper Labs’ NBA Top Shot is similar to Sorare, built on top of NFT, and based on professional athletes. The NFT behaves like a deed of title to a scarce digital asset, so in the case of Sorare it is a digital trade token that can be bought and resold with any available token. An NFT card can cost as much as $ 290,000. However, unlike Top Shot, Sorare has a continuous gameplay component and is similar to other fantasy sports in that every week you can choose your top players as well as tournaments with other users. Sorare also has a close relationship with Ubisoft as they are working on the Accelerator this year.
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