parisbased sorare 680m series softbank vision

#PARISBASED SORARE 680M SERIES SOFTBANK VISION PROFESSIONAL#

has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. Website – Linkedin – Twitter – Discord – Press KitĪs of the date of this press release, SoftBank Group Corp. Based in Paris, Sorare is funded by a world-class team including SoftBank, Benchmark, Accel, Headline, and footballers Gerard Piqué, Antoine Griezmann, Rio Ferdinand and Cesar Azpilicueta. The platform had a card sales volume of over $150 million since January 2021 across 170 countries. Sorare is transforming online sports fandom and giving its community a new way to connect to the clubs and players that they love. Through NFTs and its global fantasy football, the company is on a mission to become ‘the game within the game’. We’re pleased to be joining them on this journey and are really excited to see what the company will achieve in its next phase of growth.”įounded in 2018, Sorare was created by football fans for football fans. “It’s evident from Sorare’s amazing growth this year alone that football fans around the world have been eagerly waiting for the “game within the game” that Sorare provides. “Sorare sits at the intersection of two really exciting industries in digital collectibles and fantasy sports,” said Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organisations, and to introduce the same proven model to other sports and sports fans worldwide.” We are thrilled by the success we have seen so far, but this is just the beginning. 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. “Sorare’s game is born from our love for football and our expertise in tech. This is also true for sports, where clubs, players and their passionate fans are looking for new ways to connect with each other online”, said Nicolas Julia, CEO and co-founder of Sorare. “We are continuously shifting towards digital experiences to celebrate and hone our passions. In addition to the investment, Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group will join Sorare’s Board of Directors. Sorare also plans to open its first US office soon and to launch new initiatives to support sports activities for young people and fund other startups in the Sorare ecosystem.įootball players Gerard Piqué, Antoine Griezmann, Rio Ferdinand and César Azpilicueta also participated in the round. The funding will be used to rapidly accelerate the company’s growth within football while also allowing Sorare to replicate its model in other sports, expand its world-class team by hiring across key roles, and launch ambitious marketing campaigns with partners, athletes, and media companies.

#PARISBASED SORARE 680M SERIES SOFTBANK VISION PROFESSIONAL#

Sorare is effectively opening up a new traceable and sustainable revenue stream for professional sports organisations globally. This next-generation gaming experience allows leagues and clubs to expand their international brand by reaching an untapped audience of fans. The company’s ambition in football is to onboard the top 20 football leagues globally and the top 50 football associations, across not just men’s football but also women’s football.

Sorare has already established a leading position in the fast-growing football NFT space the company has over 600,000 registered users on the platform and has licensed players from over 180 football organizations, including Real Madrid, Liverpool, Juventus, the French and German Football Federation. The number of monthly active paying Sorare users grew by 34X between Q2 2020 and Q2 2021, with quarterly sales increasing by 51X over the same period. The company has experienced tremendous growth this year with over $150 million worth of cards traded on the platform since January. Through collecting, owning and trading these limited edition digital collectibles, Sorare is designing a unique game experience where users can truly own their game and build real world connections. It is a secure and transparent model of digital ownership. Sorare cards are NFTs, meaning each card is unique, scarce, and its ownership is publicly verifiable via the Ethereum blockchain.

Sorare operates at the intersection of the fast growing non-fungible token (NFT) market ( $2.5bn already sold this year), sports cards ( $5bn) and global fantasy sports ( $48bn by 2027), creating a multi-billion-dollar total addressable market opportunity 1.

Parisbased sorare 680m series softbank vision