Advocates draw parallels with NBA Top Shot, a similar product for basketball.īut the “fantasy football competition” is strictly limited to over 18s in the UK, given regulations concerning the buying and selling of digital assets. Sorare’s big pitch is that, just as fans collect stickers and trading cards in the physical realm, the next generation of fans will do so using virtual trading cards in the form of non-fungible tokens (NFTs). We've been a little quieter than usual but we're working hard to improve the game we all love. Thank you to our community for leading us to this milestone. However, just a small fraction of these - around 170,000 - actually own a Sorare NFT.Īs of today 100,000 Managers own at least one Sorare #NFT □ The firm says the game boasts two million registered users. “Scarcity has always been important to collectors - whether collecting Sorare cards or other collectibles such as traditional sports cards - and it is true that some collectors are willing to spend larger amounts to be the sole owner of something and add it to their collection,” a Sorare spokesperson said, maintaining the basic version of the game is “free to play” and that “managers are able to build a high performing team without spending anything on their cards”. In January, when cryptocurrency markets were at their peak, an Erling Haaland NFT sold for €614,000 and many of the cards change hands for huge sums.ĭetermining the prices of Sorare NFTs is not straightforward, but they do not appear to have had the same drastic crashes that many other products in the sector have experienced. Sorare players can win or buy and sell more valuable digital player cards using a cryptocurrency called Ethereum.įans may be concerned at links between their club and the cryptocurrency sector, which has tanked in recent months. Last year, the UK Gambling Commission said it is looking into the firm “to establish whether requires an operating licence or whether the services it provides do not constitute gambling”, while the platform has been banned by the Swiss gambling regulator as a foreign-based gambling company. Norwich City’s website included the following disclaimer: “Please note that the value of Sorare’s digital player cards are forms of non-fungible tokens and that their value is variable and can go down as well as up.” Sorare insists it is not an investment product. □Ī major investigation by The Athletic last year revealed how some big accounts appear to pool money together to hoover up millions of dollars in cash rewards on the platform, and how “affiliate” users market it as an investment opportunity. #LFC has expanded its current partnership with the player-owned fantasy sports game, making it an official global partner of the Reds. The Premier League is a rare exception in football in not partnering with Sorare (though Liverpool have an individual deal). Sorare also recently struck a deal with Major League Baseball and has an NBA version “coming soon”. Sorare will be launching a new competition, ‘Second Division Europe’. The new deals with Burnley, Coventry City, Millwall, Norwich City and Watford mark a first foray into lower-tier English football as part of plans to extend to the second divisions of Germany, Spain and France. The French company was valued at $4billion (£3.5bn $3.96bn) after a major investment last year and counts Kylian Mbappe, Serena Williams, Gerard Pique and Rio Ferdinand among its ambassadors and investors.
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