A further five teams are to launch non-fungible tokens (NFTs) on digital soccer collectibles platform Sorare.
- Cagliari, Sampdoria, Genoa, Udinese and Hellas Verona are the latest to join the platform’s fantasy football game, an emailed announcement by Sorare said Tuesday.
- This brings the total from Italy’s top league to 11 – more than half of the total number of teams of 20 – and also features world-famous clubs like Liverpool, Real Madrid and Bayern Munich.
- Sorare is a fantasy football game that enables users to trade digital cards of players in NFT form on the Ethereum blockchain.
- It features more than 140 clubs from Europe, the U.S. and Asia who use Sorare to drive additional revenue and engagement with fans around the world.
- Sorare raised $50 million in Series A funding in February led by venture capital firm Benchmark and including investments from famous players such as Rio Ferdinand, Oliver Bierhoff and Antoine Griezmann.
- Digital collectibles have become a common part of the blockchain landscape, most prominently in the U.S. through NBA Top Shot, developed by Dapper Labs which is now valued at more than $7.5 billion.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.