Sorare announced today the completion of a $50 million funding round led by Benchmark and with participation from Accel. Leading celebrities in the world of football also took part, such as Antoine Griezmann, Rio Ferdinand, Oliver Bierhoff, Alexis Ohanian and Gary Vaynerchuck.
Nicolas Julia is the Co-Founder and CEO of Sorare, the global fantasy football game. He says he started his journey back in 1998 when France hosted the World Cup. He completed his very first sticker album that year, and he said it helped to bring him closer to the game of football, but also closer to his friends who were also collecting the stickers.
Years later, in 2018, Julia and his Co-Founder Adrien discovered the new technology of Non-Fungible Tokens (NFTs). They realised that this could take digital collecting to a new level, and that it would be the perfect fit for introducing digital scarcity into the world of fantasy football.
Julia says that working with Benchmark has brought his dream to reality. He believes Benchmark to be “one of the best early-stage venture capital firms in the world”. Benchmark has also successfully backed top internet companies such as Twitter, Snap, Instagram and Discord.
The Sorare CEO says what the company will do with the funding:
“We’ll be using this new funding to propel our vision forward. Our mission is to create “The game within The game”. We are transforming online football fandom and giving fans like us the power to own the game they love.”
He goes on to say that the funding will help in hiring a first-class team, onboard the top 20 football leagues in the world, and launch a mobile app. He also adds:
“More importantly, these funds will serve to delight our current and future community. Clubs, footballers and fans are at the heart of the game. We’re designing an experience where fans can celebrate, share, and live football moments at a deeper connection. We’re making fantasy football a reality.”
Finally, he describes how the technology of NFTs will work to give digital cards superpowers:
“Blockchain technology gives Sorare cards superpowers. We are building more than collectibles. Our digital cards have a utility that can be used in our global fantasy football games and myriads of games. The potential is limitless and we can’t wait to see the amazing football projects that are built around Sorare cards!”
NFT technology is really exploding onto the Blockchain/Cryptocurrency scene currently. Christies is involved with selling art NFTs and the world of DeFi is using the technology in ever more innovative ways. The future does look bright for the companies that can become the first movers.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.