alone in 2019, and the fantasy sports industry, which is expected to be worth $48 billion by 2027. Plus, it’s in the sports card market, which was worth $13.82 billion in the U.S. The game operates in the NFT market, which accumulated $2.5 billion in sales in the first half of this year and the same again in the last month alone. To put the $4.3 billion valuation in context, Dapper Labs raised $305 million at a $2.6 billion valuation in March, but is rumored to be raising more at a $7.5 billion valuation.Ī contributing factor to Sorare’s $4.3 billion valuation is likely the growth opportunities for Sorare. Since the start of the year, the platform has generated $150 million in sales.
The platform experienced significant growth since the beginning of the year, with monthly active users increasing 34 fold between Q2 of 2020 and Q2 of 2021. The goal is to sign every team in the top 20 football leagues worldwide by the end of 2022. It also signed a league wide contract with Spain’s LaLiga. Over 180 football clubs are already officially licensed on the platform, including league leaders Paris-Saint Germain, Liverpool, and Inter Milan. The blockchain feature of the platform ensures traceability in these transactions. In addition, people can make money off Sorare as the top ranked line-ups win some cryptocurrency weekly, or the cards can be sold for a profit. The NFT aspect ensures that the cards are scarce, proves ownership, and enables transparent and efficient trading. The performance of the users depends on the players’ actual performance on the field. Football player cards are minted as NFTs and users can build a weekly lineup of five players to compete against other fantasy teams. Sorare was launched at the end of 2019 as an alternative to traditional fantasy sports games.
#Sorare nfts 50m benchmarkkhatri theblock series
The financing was led by SoftBank and is the biggest Series B round in Europe. Sports non-fungible token (NFT) platform Sorare raised a Series B round of $680 million at a $4.3 billion valuation.
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