non-fungible token (nft)-based fantasy sports and marketplace Sorare: Football partnered with Premier League Crypto drama or not – in a multi-year licensing deal.
fans can create custom teams to win “big prizes” as if they were professional club owners, Told the announcement.
explained that,
“Football fans around the world can now collect, buy, sell and trade officially licensed digital cards featuring every player from the Premier League’s 20 clubs.”
How long has the deal been signed, Financial Times Reported That this is a four year licensing agreement. People familiar with the matter said that “Sorare will pay the Premier League hundreds of millions of pounds a year to secure the rights,” while the final payment for each year will depend on performance.
“Under the deal, the Premier League also has the option of taking an equity stake in Sorare,” it said.
Sorare, which is backed by players such as Kylian Mbappé and Lionel Messi, has partnered with over 300 football clubs and teams from around the world, including Europe’s top leagues, so Sorare Manager can host the Premier League or Premier League of your choice. Can play with league stars. Global competitions, said Bazar.
‘Bad taste in mouth’
Notably, the partnership comes at a time of great upheaval for the crypto industry. The prices of major cryptoassets have definitely increased in January – for example, bitcoin (btc) Appreciated nearly 39% in 30 days – but many other issues and concerns still remain. And these are caused by a long run of failures of crypto companies and projects.
saw last year Earth, three arrows capitalAnd Celsius Network down to name just three of the many that would be followed by the massive and infamous collapse ftx Exchanges – All of these are still causing waves of bankruptcies and layoffs within the industry, as well as legal and regulatory issues outside of it.
Nicolas Julia, co-founder and chief executive of Sorare, was quoted by the Financial Times as saying,
“To be honest, I don’t like the craziness of the last six to 18 months. […] You see too many organizations and companies thinking short term and jumping into new cool technology for the wrong reasons, then leaving fans with a bad taste in their mouths.”
And all that said, the football world doesn’t seem to mind.
Premier League chief executive Richard Masters was quoted as saying,
“The way supporters follow their favorite teams and players is evolving and the Premier League is always looking for ways to engage with fans.”
Per Masters, this partnership is an ideal new way for fans to feel closer to the players and the game.
Meanwhile, Sorare’s revenue is set to jump 50% in 2022 compared to 2021, according to Julia, as gross merchandise volume (which is total user spending on its platform before accounting for revenue shares with partners and other fees) soared in 2021. increased from $292.3 million to approx. $541.2 million in 2022.
In addition, Paris-based Sorare raised $680 million in a 2021 funding round at a valuation of $4.3 billion. softbank,
Meanwhile, to mark the partnership, Sorare: Soccer launched features that include league-specific competitions, draft-based gameplay and capped-mode competitions, the announcement said.
“There is no cost to sign up or play,” Sorare said. How the game works: Players must draft up to eight players from professional leagues around the world to build a lineup, then seek, buy, sell, and trade digital player cards. They then select a five-a-side team and enter them in twice-weekly competitions with other managers to win prizes, with scores determined by the players’ real-life performance.
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learn more:
, Soccer Premier League signs £30m deal with Sorare NFT platform
, Cristiano Ronaldo Launches NFT Collection With Binance Crypto Exchange
, Major Esports Team TSM Leaves Record-Breaking $210M Sponsorship Deal With FTX
, Crypto.com Champions League Sponsorship Falls Through – Report
