NFT Fantasy Game Sorare Partners with Premier League for Multi-Year Licensing Deal – News

Sorare, a Paris-based NFT (non-fungible token) fantasy game startup, has inked a deal with the Premier League, the premier football league in the United Kingdom, to make league teams and players part of its roster. The multi-year agreement reportedly involves payments worth tens of millions of pounds per year to the league.

Sorare adds the Premier League to its platform

Sorare, a Paris-based fantasy NFT gaming startup, has completed a deal with the United Kingdom Football Premier League to use their likenesses as part of their gaming platform. Users of the app can build their own teams with players and teams from the above league. With this agreement, Sorare has five of the most important European leagues on its platform, including the first Spanish football league, the Spanish Laliga.

While the NFT model has faced several difficulties due to the downturn in the cryptocurrency market, Sorare allows anyone to list players as part of their fantasy teams without having to purchase their collectibles in a free-to-play game mode. Sorare CEO Nicolas Julia explained that many players have switched to this game mode as 87% of players do not spend money on the platform.

Julia explained that the platform relies on the transactions of high-performing NFT users to be profitable as unique collectibles are still available on the platform.

Deal Details

The deal reportedly had to be kept secret as the Premier League was also negotiating similar arrangements with other platforms. After Sky News The deal will replace another partnership, with Consensys, an Ethereum software company that was dropped last year.

Although there were no official announcements regarding numbers, Financial Times reported that the deal involves paying “tens of millions of pounds a year”, with any payment dependent on the app’s performance. The deal also allows the Premier League to take a stake in the fantasy startup.

Sorare experienced significant growth in 2021, educate $680 million in September as part of its Series B funding round led by Softbank. At this point, the company reached a valuation of more than $4 billion.

In September last year the company announced partnered with the National Basketball Association (NBA) to launch an NFT-based game featuring players and teams from the league. Also in November, Argentine soccer superstar Lionel Messi became an investor and ambassador for the Sorare brand.

What do you think about the deal Sorare has done with the Premier League? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price surge occurred in December 2017. He has a background as a computer engineer, lives in Venezuela and is affected by the cryptocurrency boom on a social level. He offers a different perspective on crypto success and how it helps the unbanked and underserved.

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