Lionel Messi Takes Equity Stake on NFT Fantasy Game Sorare

UTC by Steve Muchoki · 3 min read
Lionel Messi Takes Equity Stake on NFT Fantasy Game Sorare
Photo: Leo Messi / Facebook

Sorare was last valued at $4.3 billion, with more than 2 million users in over 185 countries.

Football icon and Paris Saint-Germain forward player Lionel Messi has joined Sorare, a French non-fungible token (NFT) trading game, as an investor and brand ambassador. Through signing Messi, Sorare anticipates engaging more fans globally to connect with the NFT fantasy game. Moreover, the company can now set new standards through Messi as a brand ambassador.

As an internationally recognized footballer, Messi has been working with blockchain technology companies, including Socios, the fan tokens marketplace.

“We believe Messi will help us set new standards in how we do this, and we look forward to sharing what new content and fan experiences we’ve been collaborating on soon,” he told CNBC via email.

Sorare has a wide range of fantasy games, including basketball, where players can choose to collect digital cards. With the cards, players can then organize a team and compete with other global users.

Notably, Sorare was last valued at $4.3 billion with more than 2 million users in over 185 countries. The NFT fantasy game is partnered with over 300 sports teams and leagues, including Spain’s La Liga and Germany’s Bundesliga.

Sorare and the Market Outlook

Founded in 2018 by Nicolas Julia and Adrien Montfort, Sorare utilizes Ethereum’s vast blockchain network. Using blockchain technology, Sorare assures gamers of system security since all rare cards can be verified on the Ethereum network.

The Sorare company is well diversified to keep earnings on a growing trajectory. Notably, Sorare allows access to its public data via a paid API link. As a result, several sites use Sorare’s data to propose information or side games.

With Messi onboard as a brand ambassador, Sorare anticipates reaching out to more users globally. Furthermore, GameFi projects have taken center stage in the blockchain and cryptocurrency market in the past few years.

“Fans have always looked for ways to express their passion and get closer to the players and teams that they love, and Sorare’s combination of a fantasy game with digital collectables gives fans new ways to do that, wherever they are in the world,” said Messi in a statement Wednesday.

Nonetheless, Sorare will have to market its product further as competitors pour more money into the GameFi industry. The NFT industry is expected to grow exponentially further in the coming years.

Institutional investors have found the NFT niche as a promising industry in scaling to global markets. Moreover, Web3 technology, where most NFT marketplaces are categorized, is decentralized and can be accessed from anywhere worldwide through the internet.

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Steve Muchoki

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