- Players will be permitted to acquire and utilize NFTs that have been granted formal licencing.
- Sorare has announced the inclusion of two new features.
Under the terms of the multi-year deal, the Premier League will licence official player cards to Sorare, a $4.3 billion fantasy soccer game. Players will be permitted to acquire and utilize NFTs that have been granted formal licencing by the famous football league under the terms of an exclusive multi-year agreement.
Sorare, a Paris-based business with 3 million members worldwide, allows anyone to compete in five-a-side fantasy soccer contests. The team’s chances of winning are directly related to how they are currently playing on the pitch.
Crypto Winter Helps Sorare Bag Deal
More so, the Ethereum-based fantasy sports game has announced the inclusion of two new features. There are a number of features that make the game more interesting, such as the ability to compete using league-specific player cards and a mechanism known as “financial fair play” that prevents users from selecting all-star teams.
It was reported in October of 2022 that Sorare was in licence contract talks with the Premier League, England’s top rank of men’s soccer. CEO of Sorare Nicolas Julia says it took longer than intended to conclude. The Premier League already had an NFT licence agreement in place with another firm, so this was not an option. A transaction for up to £400 million ($459.2 million) was rumored to have been secured by ConsenSys. This deal came tumbling down, however, when the “crypto winter” destroyed a significant amount of the formerly vast assets available to enterprises in the blockchain industry.
The Sorare NFT collection is the third biggest in the world, according to the information supplied by CryptoSlam. Also, the platform claims that the business processes almost a million dollars’ worth of transactions per day.
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