![]() The cards are traded in the form of non-fungible tokens (NFTs), a kind of crypto asset which records the ownership status of digital goods on blockchain. ![]() The market for NFTs has seen explosive growth in 2021, with collectible and sports-related ones the most popular types of token. Sorare users there.This isn’t SoftBank’s first foray into NFTs: it also led investments in NFT marketplace OpenSea in July and invested in decentralized finance platform Juggernaut in March.Other investors in Sorare’s raise include: venture capital firms Accel and Bessemer Ventures as well as footballers Pique, Ferdinand, Frenchman Antoine Griezmann and Spaniard Cesar Azpilicueta.(1 0. “This evolution from physical assets to digital assets is very powerful, and creates a lot of exciting potential business models.” “We think NFTs represent a new paradigm in the collectability, usability, and engagement with assets,” Michel Combes, president of SoftBank Group International, said. The investment, Europe’s biggest ever Series B, gives Sorare a new valuation of 4.3 billion. Sorare is the largest sports-based NFT platform by sales volume, according to, a website which tracks NFT market data. It plans to open an office in the United States and expand into sports other than soccer. “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,” Nicolas Julia, CEO and co-founder of Sorare, said. “We believe this is a huge opportunity to create the next sports entertainment giant.” Ryan Weeks / The Block: Paris-based Sorare, a soccer-focused NFT trading platform, raises 680M Series B led by SoftBank Vision Fund 2 at a 4. Since January 2021, there have been $150 million of sales on Sorare, which accepts payments via credit card and the cryptocurrency ether. Ryan Weeks / The Block:Paris-based Sorare, a soccer-focused NFT trading platform, raises 680M Series B led by SoftBank Vision Fund 2 at a 4.3B valuation Quick Take TheContinue reading.Paris-based Sorare, a soccer-focused NFT trading platform, raises 680M Series B led by SoftBank Vision Fund 2 at a 4. The most expensive unique card is of Cristiano Ronaldo, which was bought for 245,072 euros ($287,420.44) on March 13. The fundraising round was SoftBank’s first investment in Sorare, and done via its SoftBank Vision Fund 2. This is not SoftBank’s first foray into NFTs. Besides SoftBank, other participants in the investment include Atomico, Bessemer Ventures, D1 Capital Eurazeo, IVP, and Liontree as well as previous investors Benchmark, Accel and Headline. It also led investment in the NFT marketplace OpenSea in July and invested in the decentralised finance platform Juggernaut in March. Softbank has been a relatively late investor in the blockchain sphere, but in the last three months it has placed some big bets. Other investors in Sorare’s raise include venture capital firms Accel and Bessemer Ventures, as well as the footballers Pique, Ferdinand, France’s Antoine Griezmann and Spain’s Cesar Azpilicueta.The new funding round is the second-largest private fundraise among blockchain startups as well as Europe’s biggest ever Series B. “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 are thrilled by the success we have seen so far, but this is just the beginning. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organisations, and to introduce the same proven model to other sports and sports fans worldwide,” Sorare co-founder and CEO Nicolas Julia said. With the new funding round, Sorare plans to expand into new sports, sign new partnerships with professional sports organizations, expand the team in Europe and the U.S., and accelerate on mobile and marketing. “We are the only ones that have bridged the gap between the game, collectibility and utility over the lifetime of sports NFTs,” Predhomme Thibaut, head of operations at Sorare, said in an interview. Companies are more about collectibility, so no, I’m not worried about them competing in the European market. ![]()
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