• Sorare, a Paris-based NFT fantasy game startup, has closed a deal with the Premier League, the first soccer division in the U.K., to make teams and players of the league part of its roster.
• The multi-year agreement involves payments of tens of millions of pounds per year to the league.
• The platform allows users to build their own teams featuring players and teams from five major European leagues without having to purchase their collectibles in a free-to-play game mode.
Sorare Partners With Premier League for Multi-Year Licensing Deal
Sorare, a Paris-based NFT (non-fungible token) fantasy game startup, has closed a deal with the Premier League, the first soccer division in the U.K., to make teams and players of the league part of its roster.
Multi-Year Agreement Details
The multi-year agreement involves payments of tens of millions of pounds per year to the league. According to reports, each payment is dependent on the performance of Sorare’s platform.
Features Of Sorare Platform
Sorare includes five important European leagues on its platform – including Spain’s Laliga – allowing users to build their own teams featuring players and teams without having to purchase their collectibles in a free-to-play game mode.
Recent Growth Of Sorare
In September last year, Sorare raised $680 million as part of its Series B funding round that was led by Softbank and reached a valuation of more than $4 billion. In November 2020 it announced an NFT based game featuring players and teams from NBA.
< h2 >Deal Involves Stake For Premier League
< p >The deal also allows Premier League to take stake in Sorare which reportedly had been maintained in secret due Financial Times report that it was negotiating with other platforms with similar agreements.