The partnership with Sorare adds to a slew of notable deals between sports stars and crypto platforms. “Fans have always looked for ways to express their passion and get closer to the players and teams that they love and Sorare’s combination of a fantasy game with digital collectibles gives fans new ways to do that, wherever they are in the world,” said Messi in a statement Wednesday. It has expanded beyond its core focus on soccer recently into other sports, including basketball and baseball. The Paris-based startup, which was last valued at $4.3 billion, has more than 2 million users in over 185 countries and is partnered with over 300 sports teams and leagues including Spain’s La Liga and Germany’s Bundesliga. Sorare says this creates “digital scarcity” for each card. The cards are themselves nonfungible tokens, or NFTs, virtual collectible items that keep a record of ownership that is tracked on the blockchain. Sorare lets users trade digital player cards and manage teams of five in fantasy soccer tournaments. “We believe Messi will help us set new standards in how we do this, and we look forward to sharing what new content and fan experiences we’ve been collaborating on soon,” he told CNBC via email.
Nicolas Julia, Sorare’s CEO and co-founder, said the partnership with Messi marked a “huge milestone” for the company. Messi has taken an equity stake in Sorare as part of the deal, the company said, without expanding on the size of his holding or other terms. They’ll also work together to create new content and fan experiences, Sorare added. The Argentinian, who plays as a forward for French club Paris Saint-Germain, will help Sorare set new standards in how fans connect with clubs and players, the company said in a statement Wednesday. Sorare involves an in-game cryptocurrency, but Julia said he plans to change this, calling it the “last remaining friction” for players who want to avoid cryptocurrencies’ volatility.Soccer star Lionel Messi is joining Sorare, the French nonfungible token trading game, as an investor and brand ambassador. Julia said 87 per cent of current users play the game without spending money on the platform. it’s a collectible that you can play in a game.” “We never market the game as an investment. Julia said the company, which has more than 3 million users, has “trended very differently from the rest of the space” because its NFTs have “utility value”. The average sale price of a Sorare NFT dropped to around US$38 in December, down from a peak of US$281 in March 2021, but the number of Sorare monthly buyers and transactions is near an all-time high, according to blockchain tracker CryptoSlam. The lack of regulatory oversight for crypto and NFTs is obviously something which supporters should be aware of,” the FSA added. “Supporter engagement shouldn’t be monetised. Members of the Football Supporters’ Association (FSA), which represents fans in England and Wales, “have been raising concerns about crypto-based engagement partnerships at their clubs for many years,” a spokesman said, commenting on football’s engagement with crypto in general, before Sorare’s announcement. Proponents say they can be used to increase fan engagement, but critics say they risk encouraging financial speculation. Many top football teams and sports stars promoted crypto assets – such as NFTs or “fan tokens” – to supporters during the boom.
#La liga french sorare nfts series
NFTs surged in 2021, but prices and sales volumes plunged in 2022 as investors turned cautious and the crypto industry was rocked by a series of high-profile collapses.
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