Today French blockchain startup Sorare announced that it raised a $50 million Series A funding led by Benchmark. Other participants in the round include Accel, Reddit’s Alexis Ohanian, Gary Vaynerchuk and Barcelona striker Antoine Griezmann. The startup has now raised $60 million to date.
The company operates a fantasy football (soccer) collectible game that uses non fungible tokens (NFT), ensuring the player’s card is unique. Based on the Ethereum blockchain, the cards are tradable with a unique Christian Ronaldo card recently selling for $102,000. Sorare has signed 126 soccer clubs, including big names such as Liverpool, Paris Saint-Germain, Bayern Munich, Real Madrid and Juventus.
In the last three months, Sorare says its volumes have grown 52% per month. Back in January 2020, it was trading $60,000 worth of cards which increased to $4.2 million in January 2021.
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