The Premier League and the French startup Sorare have agreed to a four-year license agreement. Given that the English football league is one of the most watched sports leagues in the world, this is a significant move for the corporation.
A fantasy sports game platform called Sorare uses non-fungible tokens, or NFTs. In order to produce trading cards featuring football players, Sorare has cooperated with many football leagues.
Each card is listed on the Ethereum blockchain as a distinct token. Players of Sorare can exchange cards with other players. After that, they may choose a starting lineup of five players and score points for actual performances. The firm makes money by regularly releasing new cards on the platforms that customers can purchase to add to their own collections.
Additionally, the startup has had good success thus far. The Premier League is a fantastic addition to their list of football organizations as it funded a massive $680 million Series B round and struck ties with several teams and leagues, including Spain's LaLiga, Germany's Bundesliga, and Italy's Serie A.
“The Premier League is a truly global competition and has been the home to so many iconic moments and players over the last 30 years. As football fans ourselves, this partnership is something we’ve dreamt of since we founded the business,”
...Nicolas Julia, co-founder and CEO of Sorare, said in a statement.
“It’s a major milestone for us as we pursue our goal to build a compelling global sports community for fans and we’re extremely proud to have now partnered with three of the biggest sports leagues in the world: the Premier League, NBA and MLB. We’re incredibly excited and can’t wait to see fans play with Premier League cards in our tournaments.”