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Spanish footballer and FC Barcelona defender Gerard Pique has invested in France-based global fantasy football game Sorare. In addition to his investment, he has also joined the strategic advisory board of the firm. Pique made a $3.5 million investment through his Cassius family fund.
Sorare made the announcement, saying Pique will help the company gain face with the top 20 football leagues in the world. With the investment by the Spanish footballer, the company is making efforts to expand its global presence.
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Deal with bring other deals from top sports organizations
Chief Executive Officer of Sorare Nicolas Julia said with Gerald’s influence, the company would make important deals with other top sports organizations in the world.
“Gerard will help us strike the best deals with the biggest sports organizations in the world,” Nicolas said.
In recent months, the platform attracted the likes of Paris Saint-German, Inter, Bayern Munich, and Real Madrid to its project. And recently, it raised about $8 million to achieve its expansionary objectives.
In response to questions about his reason for investing in Sorare, Pique pointed out that he has always been a lover of soccer cards right from his childhood.
“I was a fan of soccer cards since I was a kid,” he says. He also added that it’s time for the world of football to move beyond its current level of innovation.
Blockchain technology at play
Ethereum’s blockchain technology is at the forefront of Sorare’s technology. The company uses it to generate limited runs of digital player cards, which can be traded for actual money or used to assemble a fantasy football team.
In recent months, blockchain technology has seen more adoption in the sports industry. Top football clubs now have fan tokens, with FC Barcelona launching its token earlier this year in collaboration with the blockchain platform, Chiliz (CHZ).
French football club Paris Saint-Germain (Paris Saint-Germain) is now launching player collections in the form of rare tokens.
PSG is the top football club in France. It has cooperated with the blockchain platform Socios.com to launch its own “fan token product” in 2018.
This week, PSG became the 100th football club to join Sorare, a fantasy football game platform based on the Ethereum blockchain.
Paris Saint-Germain players Neymar and Kylian Mbappé, as well as club veterans such as David Beckham, will be converted into limited edition digital player cards. The score of player cards will depend on their real performance on the football leaderboard, and the scarcity of collectible cards is the guarantee of the use of blockchain technology.
The news of the new cooperation also coincides with the official launch of Sorare in the United States, which has become the world’s second largest market for the game.
A Sorare spokesperson explained in an interview with Cointelegraph that the game has been in closed beta in the United States until December 2019 (by invitation only), and has been in public beta until its release on September 28 stage.
According to the American Fantasy Sports and Game Association, there are nearly 60 million people playing fantasy sports in the United States, which makes the market for blockchain game players particularly attractive.
The spokesperson said: “We believe that with 100 clubs and three of the top ten football clubs-Juventus, PSG, Atletico Madrid-we are now officially starting to provide a comprehensive gaming experience. Come and contribute to this game. advertising.”
Before the US release, he pointed out that the game “needs some fine-tuning, such as scoring matrix and in-game progress.”
Since its launch in March 2019, Sorare has achieved $2 million in credit card sales revenue in 60 countries.
Nonfungible is a ranking site for blockchain games and collectible, non-fungible token (NFT) products. Sorare is currently ranked 5th with a 7-day transaction volume of US$205,131, and the number one game “cryptocat” It is US$954,231.
NFT was first noticed when it launched the “cryptocat” in 2017. Like Sorare, the “cryptocat” is based on the Ethereum blockchain. As of July 2020, the NFT collectibles market is estimated to have reached $370 billion.
French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens.
PSG — which plays in the highest tier of French soccer — had already partnered with blockchain platform Socios.com to launch its own “Fan Token Offering” in 2018.
This week, the club has become the 100th soccer club to join the Ethereum blockchain-based fantasy soccer game Sorare platform.
PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be tokenized as limited edition digital player cards. The score of player cards will depend on their real-life performances in soccer league tables and the rarity of collectible cards is vouched for using blockchain technology.
News of the new partnership also coincides with Sorare’s official launch in the United States, which has become the game’s second-largest market worldwide.
Speaking to Cointelegraph, a spokesperson for Sorare explained that the game had been in closed beta in the U.S. through to Dec. 2019 (invite-only), and open beta until its launch on Sept. 28.
Close to 60 million people play fantasy sports in the U.S., according to data from the Fantasy Sports and Gaming Association — making the market for blockchain entrants particularly attractive.
“We consider that with 100 clubs and three of the top 10 soccer clubs in the world — Juventus, PSG, Atletico Madrid — we’re now officially on track to start advertising the game as a full-on gaming experience,” the spokesperson said.
Ahead of the U.S. launch, he noted that the game had “needed some fine-tuning, such as the scoring matrix and the progression within the game.”
Since its launch in March 2019, Sorare has generated $2 million in revenue from card sales across 60 countries.
Nonfungible — a rankings site for blockchain games and issuers of collectible, non-fungible tokens (NFTs) — currently has Sorare ranked 5th. It reports $205,131 in 7-day volume as compared with $954,231 for the top-ranked game, Cryptokitties.
NFTs first came to prominence in 2017 with the launch of Cryptokitties, which, like Sorare, is based on the Ethereum blockchain. The NFT collectibles market was estimated to have hit $370 billion as of July 2020.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Marie Huillet
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