Soccer Craze NFT Platform Sorare Bags $680M

Soccer Craze NFT Platform Sorare Bags $680M
  • Sorare NFT platform raises about $680 million in Series B alone.
  • The firm’s valuation now stands about $4.3 billion.
  • Plans integrating more sports like baseball, American soccer into its NFT platform.

Amidst the peaking up non-fungible token (NFT) market, the Sorare platform has its very own role to play. The blockchain based collectible digital assets firm, solely based on NFTs, the Sorare platform has a separate value share upon the overall NFT market. Such is its current valuation though. 

In spite of such profuse rise in its market, the Sorare platform bags about $680 million in the series B fundings alone. Also, the news has been announced officially on September 21. 

Moreover, the platform’s foremost financiers and investors upon this series B were, LionTree, SoftBank Vision Fund, IVP, HillHouse, Atomico and Bessemer Ventures. In addition, after the series B fundings, now the current value of the Sorare platform is to a whopping $4.3 billion. This accounts to the highest upon the NFT market. 

History of Sorare’s Surge

Besides, taking into account from the start of this year, the overall sales of digitized collectibles by the platform accounts to $150 million. Also, the total number of users on the platform is over 600,000 roughly.

Furthermore, the overall sales for the company has multiplied to about 54 times, comparing the March of 2020 and to the March of 2021. In addition, it’s evident that the profuse fundings catapulted the platform’s growth in a prolific way. 

The Official’s Views

The CEO of Sorare, Nicholas Julia states that they are indulging themselves in using the same strategy to other sports too. And so, in near future, the Sorare platform will contain collectibles of baseball, American football, and much more, he adds. 

On the other hand, the head of operations of Sorare, Thibaut Predhomme, utters that their firm plays a major role in establishing a connection between real sports and the collectibles NFTs and so they are extremely proud of it.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.