Liverpool FC Extends NFT Fantasy Sports Partnership with Sorare

UTC by Sanaa Sharma · 3 min read
Liverpool FC Extends NFT Fantasy Sports Partnership with Sorare
Photo: Unsplash

The average sale rate of a Sorare NFT in August was at $86.15, tanking from a peak of $280 in March last year.

Liverpool Football Club is dipping its toes further into the crypto space by initiating a collaboration with French blockchain-based sports startup Sorare.

Sorare employs team player-owned fantasy sports games that roll out digital memorabilia as Non-Fungible Tokens. The online sports game revolves around the sale of licensed virtual sports cards which players can leverage to bring together teams that are then pitted against each other.

Sorare has claimed to possess a one-of-a-kind multi-year association with Liverpool to design content and experiences for fans. The cards curated for the games are traded as Non-Fungible Tokens (NFTs).

The past Blockchain undertaken with Liverpool saw exclusive cards being given out on the Sorare platform, while the recently struck deal will open doors to Liverpool stadium excursions, and match day experiences along with limited video content being delivered as awards for winners of the online game.

According to Liverpool FC Commercial Director Ben Latty, the club is always aiming to accentuate their fan experience and allow them to feel engaged with the club as much as possible.

Liverpool’s deepening of its ties with Sorare is the most recent undertaking in a series of landmarks for Sorare, which now possesses more than 2 million customers globally with an additional 280 collaborating sports agencies like La Liga, the Bundesliga, Series, A, and Major League Baseball.

The average sale rate of a Sorare NFT in August was at $86.15, tanking from a peak of $280 in March last year.

Having said that, Britain’s anti-gambling authorities and watchdogs are concerned whether the Sorare games are drawing close to gambling. However, the company sources are pretty sure that the users are not at risk as the game does not mimic any form of gambling, and has also been verified by expert legal impressions.

The NFT trading cards have drawn a lot of attention among basketball fans as well. NBA has followed suit by revealing its very own digital range of collectibles that develop as the player’s performance during a particular season.

The news follows a year after Sorare raised $680 Mn in a series B funding round, bringing its estimated valuation to $4.3 Bn. The trend by several venture capital firms to invest in French Startups has doubled in 2021, from 5.1 Bn euros to over 10Bn euros.

Sorare has also very recently partnered with Argentinian Football Association for a multi-year association. A couple of months ago, famous French Football star Kylian Mbappe became the social impact partner and brand ambassador of the company.

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Sanaa Sharma
Author Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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