Sorare Sports Announces Big $680 Million Fund to Take Them Forward

New investors have backed Sorare with a record-shattering fundraising round of over half a billion, the biggest ever in the entire history of French Tech.

Sorare Smashing Records

Sorare has broken the record for the largest Series B funding in Europe after raising $680 million. The weight and power of world football have just shown its clout writ large in the blockchain sphere. 

The news was confirmed via an official post by Nicolas Julia, on Sorare’s Medium on September 21st. Led by SoftBank, the fundraise enjoyed the added support of established names like Atomoico, D1 Capital, and Partech. 

“Through Sorare, we have harnessed the potential of a technology that is transforming the gaming industry. Since day one (see our seed deck, and my first blog post announcing Sorare) passionate football fans have bought into our innovative vision and helped propel Sorare to new and dizzying heights,” added Sorare co-founder, Nicolas Julia.

The footballing game has also drawn attention from Reddit’s co-founder Alexis Ohanian, and some of the biggest names in football such as Rio Ferdinand and Antoine Grezmann.  Indeed this potential and the belief in the Sorare Non-Fungible Token (NFT) game is evident in the financial and commercial backing it has received.

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Sorare Sports Targets

Sorare was quick to point out what they did with previous funding received in Series A, which was a minuscule $50 million in comparison.

Helping build a world-class team and have tripled in size

Signed a five-year partnership with LaLiga & added over 50 national teams and clubs

Scaled infrastructure on Ethereum whilst drastically reducing our carbon footprint

Introduced a new scarcity to make Sorare accessible to all fans globally

The aims for the substantial amount received in the current round will go toward the following four aims outlined by Sorare:

Continue to build a world-class team — by recruiting the best talents from all over the world. We’re looking to fill many new roles, both in Europe and in the US — check our open positions.

Sign new partnerships — bringing the top 20 football leagues onboard and the top 50 national teams.

Accelerate on mobile and marketing — our fantasy game will be a mobile-first experience that fans globally will know about.

Expand into new sports — we’ve received interest from leagues and fans across the globe to replicate our model in other sports. We plan to roll out new sports in 2022.

The ambition is undeniable, especially when we consider Sorare’s intention to move into new sports, which will likely increase interest and perhaps even investment. Sorare of course has direct competitors in Chiliz who have also been sealing important partnerships, but they believe they can distinguish themselves with regard to prospective investors. 

Antoine Griezmann is certainly one to agree after quickly replying to Sorare’s funding announcement via Twitter:

“Woooooow !!! INCROYABLE et FRANCAIS !!!!” 

About Sorare

Sorare is a fantasy NFT football game, where users buy, sell, trade and manage a virtual team with digital player cards. The game uses blockchain technology from Ethereum and was developed in 2018 by Nicolas Julia and Adrien Monfort. The Sorare fantasy NFT game has been making great inroads into the footballing world with 180 officially licensed clubs now participating in the fantasy football game, including such luminaries as Bayern Munich, Juventus, Liverpool, Paris Saint-Germain, and Real Madrid.

Sorare has made it known that it hopes to onboard the top 50 football associations in the world. The company already has 100,000 active users a month across 140 countries. 

Where to find Sorare:

Website – Twitter – Medium – Discord

Source : bsc.news