Softbank leads $680m funding round for fantasy football game

Digital football card-trading company Sorare has raised $680 million in a funding round led by Japanese multinational Softbank.

Founded in 2018, Paris-headquartered Sorare was created “by football fans for football fans.”

The NFT-based platform has had a sales volume of more than $150 million since January.

Sorare football cards are NFTs, with each one is unique and publicly verifiable via the Ethereum blockchain. Users collect, own and trade these limited edition digital collectibles via the platform.

The company now plans to sign up the top 20 football leagues and expand into other sports.

Sorare said that this latest investment is Europe’s largest ever Series B, boosting the the business’ value to $4.3 billion.

"We are continuously shifting towards digital experiences to celebrate and hone our passions,” said Nicolas Julia, chief executive and co-founder of Sorare. “This is also true for sports, where clubs, players and their passionate fans are looking for new ways to connect with each other online.

“Sorare's game is born from our love for football and our expertise in tech. We saw the immense potential that blockchain and NFTs brought to unlock a new way for football clubs, footballers, and their fans to experience a deeper connection with each other."

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