Soccer Game Sorare Raises $680 Million in SoftBank Led Funding Round 

Sahaj  |  Sep 21, 2021

As reported recently, Sorare, a fantasy soccer game based on Blockchain has managed to raise $680 million in a funding round led by SoftBank. The funding round included Rio Ferdinand, a player from ex-England international, Rio Ferdinand, and Gerard Pique of Spain.

Sorare Raises Funds in a Funding Round Led by SoftBank

As per the recent revelations by the officials of the fantasy soccer game Sorare, the latest investment in their firm, valued the company at the mark of $4.3 billion.

It is an online game that was founded back in the year 2018, where the players officially purchase licensed cards that represent soccer players and create teams that will be playing against each other. 

The cards are reportedly traded in the form of Non-Fungible Tokens or NFTs, which provides them with the ownership of digital goods on the blockchain. 

It can be seen that the NFT market has soared explosively in the year 2021, with collectibles and tokens related to sports. 

The President of SoftBank Group Internationa, Michel Combes, released a statement that read:

"We think NFTs represent a new paradigm in the collectability, usability, and engagement with assets."

In addition to this, Michel laid an emphasis on the need for digital assets and said:

"This evolution from physical assets to digital assets is very powerful, and creates a lot of exciting potential business models."

Nicolas Julia of Sorare Says Blockchain and NFTs have Enough Potential

The CEO and Founder of Sorare, Nicolas Julia, pointed out the immense potential in blockchain and NFTs and said:

"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. We believe this is a huge opportunity to create the next sports entertainment giant."

Moreover, it should be noted that this was not the first foray into NFTs of SoftBank as it also led an investment round in OpenSea in the month of July.

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