Home » news » sorare secures a multi year partnership deal with premier league

Sorare secures a multi-year partnership deal with Premier League

Sorare, one of the leading players in fantasy sports, has secured a multi-year partnership deal with the Premier League. The partnership deal will allow the fans of the Premier League to access an engaging way of connecting with the players and the clubs.

Sorare partners with the Premier League

Sorare has emerged as one of the largest brands in fantasy sports. The partnership deal with the most-watched soccer league will see the Premier League issuing official player cards. The players within the fantasy game will get a chance to buy and use the official non-fungible tokens (NFTs) that the Premier League has licensed.

Sorare boasts a vast global user base of more than 3 million. The platform allows players to compete against each in fantasy sports such as soccer. The success of a player within the fantasy game is determined by the real-time performance of the player in the actual league.

According to Sorare, the partnership with the Premier League will introduce two new features within the fame. The players will be able to compete with player cards specific to the league, while the “financial fair play” feature will prevent the players from selecting teams with all stars of the league.

The Chief Executive of the Premier League, Richard Masters, commented on this partnership saying that the manner by which fans interacted with their favorite players and teams was changing, and the league was looking for ways to boost this engagement.

“Sorare’s digital cards and innovative online game represent a new way for them to feel closer to the Premier League whether they are watching in the stadium or from around the world. We believe that Sorare are the ideal partner for the Premier League and we look forward to working closely together,” Masters added.

The deal is estimated to be worth around £30 million, but none of the two parties has shared the specific financials of the deal. Sorare has previously announced strategic partnership deals with Major League Baseball and the National Basketball Association.

NFT trading volumes slump

The partnership deal between Sorare and the Premier League comes when NFT trading volumes have sharply dropped. The sharp drop in crypto prices in 2022 spread to the NFT market, which also reported a drop in floor prices and trading volumes.

In December last year, the total NFT sales dropped by 78% to $678.2 million compared to the $3.1 billion reported in the previous year. However, the CEO of Sorare, Nicolas Julia, noted that the fantasy sports platform was not affected by the bear market as it nearly doubled the total card exchanges in 2022, which amounted to $500 million.

Data from CryptoSlam classified Sorare as the third-largest NFT collection globally, with daily volumes of around $1 million. However, Julia noted that one of the changes seen during the bear market was that more players were choosing the free-to-play version, adding that around 87% of Sorare players did not spend any money.

 

Ali Raza

Leave a Reply

Your email address will not be published. Required fields are marked *