NFT football trading card game platform Sorare is about to complete US$532 million in financing

Sorare, a French NFT football trading card game developer, is about to receive US$532 million in financing, with a valuation of at least US$3.8 billion.

According to a report by Cointelegraph on July 15th, French NFT football trading card game developer Sorare is about to receive US$532 million in financing, with a valuation of at least US$3.8 billion.

Coinworld-NFT football trading card game platform Sorare is about to complete US$532 million in financing

According to anonymous sources from Business Insider, the latest round of financing is expected to be led by Japanese telecom giant SoftBank, and European venture capital firm Atomico will also participate in this financing.

Other investors considered to be involved in the investment include the European investment company Eurazeo and the Bliss Fund founded by French entrepreneur Alexandre Mars.

Sorare was established in 2018. The company’s NFT-based football collectible card game now has 142 registered teams from top leagues around the world, such as Liverpool from the Premier League, Real Madrid Spain in La Liga, Paris Saint-Germain in French Ligue 1 and Bundesliga. Bayern Munich.

According to reports, Sorare CEO Nicholas Julia denied that a round of financing is underway. In stark contrast, Business Insider’s unnamed insider claimed that this round of financing is close to completion. SoftBank and Atomico have not yet commented on these reports.

If confirmed, this round of US$500 million in financing will mean Sorare’s rapid rise in 2021. In February of this year, Sorare received $50 million in its first round of financing, including support from Twitter, Instagram, Discord and French football star Antoine Griezmann.

According to data from DappRadar, Sorare ranks sixth in the NFT collectibles rankings. In the past 30 days, a total of 9,251 traders have provided sales worth $12.37 million.

Data from CryptoSlam shows that the project’s tokens also performed well in the secondary market, with an average of $6.4 million in 30-day sales from 6,111 buyers.

Cointelegraph reported in June this year that the platform has reached the first national team licensing agreement, including cooperation with the German and French national teams during the 2020 European Cup.

The company also hired Barcelona FC star defender Gerard Pique as a strategic consultant in December 2020 to help the platform target young fans and card collectors.

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