Sorare gets another partnership with a sports league, Liverpool

According to a declaration released last Thursday, the Liverpool Football Club has been broadening its collaboration with the French distributed ledgers-based soccer development company Sorare.

Sorare, whose digital fantasy football video game includes selling certified virtual sports tokens that gamers can employ to build competing teams, announced a multi-year unique collaboration with Liverpool to generate entertainment and adventures for enthusiasts.

The video game’s tokens are purchased and bought or sold in the shape of NFTs, a virtual currency asset that tracks the possession condition of digital products on the public ledger.

Liverpool cards were presented on the framework inside a 2021 agreement. The contract extension will include benefits like Liverpool arena trips, game day interactions, products, and video files as rewards for online video game champions, according to Sorare.

As the virtual currency market blew up into something like a multibillion-dollar sector the year before, sports-related items demonstrated a popular model of NFT. However, the furor has cooled throughout recent days.

As per market monitoring CryptoSlam, the median selling cost of Sorare’s NFT last August has been $86.14, down from a record high of approximately $280 last March.

No gambling involved

Sorare is being investigated by the UK Gambling Commission to determine if its video game is wagering. According to some Sorare official spokesperson, this is unrelated to the collaboration with Liverpool.

According to the official spokesman, Sorare is still very comfortable knowing that it doesn’t provide any gambling, which specialist legal thoughts at every phase have affirmed since the corporation’s inception, just like when joining new alliances.

Sorare claims to have more than 2 million customers worldwide and collaborations with over 280 million professional sports leagues, like Major League Baseball in the US and Premier League soccer teams in the United Kingdom.

Sorare brought up $680M in a round of investment led by SoftBank last year, with investors such as ex-England worldwide Rio Ferdinand or Spain’s Gerard Pique. Sorare, headquartered in Paris, stated that the money invested prized the firm at $4.3B.

SoftBank was not new to NFTs. Last July, it prompted funding inside the NFT open market OpenSea, and last March, it decided to invest in the decentralized finance system Juggernaut.

Other shareholders in Sorare’s funding round involve venture capital companies Bessemer Ventures and Accel, along with football players Ferdinand and Pique, Cesar Azpilicueta from Spain, and Antoine Griezmann from France.