Blockchain-based fantasy football platform Sorare has announced a league-wide non-fungible token (NFT) partnership with the German football league, Bundesliga, that extends to the first and second divisions. This is the second substantial league deal that Sorare has landed, following Spain’s LaLiga last month. In a major business expansion, it will also offer video moments for matches as NFTs.
Until now, Sorare’s focus area was fantasy football with more than 200 team partnerships. Fans purchase players’ cards minted as non-fungible tokens (NFTs) and use them to create a weekly lineup for fantasy games where the outcome is based on the player’s actual performance on the field. Fan line ups compete against each other and Sorare rewards top performers with cryptocurrency ETH. Users can also trade the cards and participate in more collector-like behavior.
The fact that Sorare’s offer was so entrenched in the fantasy football rhetoric as opposed to NFTs and blockchain meant it perhaps wasn’t perceived as a competitor to some emerging sports NFT platforms. That’s despite its global presence and unicorn valuation – it just raised $680 million in funding. The Bundesliga partnership changes things.
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