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Fantasy Football NFT platform Sorare close to finalizing $532 million in funding

It is reported that French NFT-based soccer trading card game Sorare is finalizing on a $532 million funding round.

According to unnamed sources in Business Insider, the latest funding round is expected to be led by Japanese telecommunications giant SoftBank and will value the company at almost $4 billion. Rumours of a funding round were already going around 2 months ago and since then have not lessened.

Sorare was founded in 2018 with a mission to become “the game within the game” where people can connect through their shared passion for football. Over the past years, the platform has established itself as a trusted marketplace where fans can collect, scout and trade official digital cards. Sorare has 142 licensed teams from top leagues across the world, such as Liverpool from the English Premier League, Real Madrid of the La Liga in Spain, Paris Saint-German from Ligue 1 in France.

Should the news be confirmed, the half billion-dollar funding would of huge significance for Sorare, its fans and the NFT market. Sorare previously raised $50 million in Series A funding in February, which included investments coming from Twitter, Instagram, Discord, and French soccer star Antoine Griezmann to name a few.

Sorare Chief Executive Officer, Nicolas Julia, has not confirmed a funding round was being conducted. SoftBank has yet to comment on the reports.

Sorare is currently ranked sixth on the list of top NFT collectible projects according to DappRadar. Sales volume over the past 30 days has exceeded $12 million involving more than 9000 traders on the platform.

The post Fantasy Football NFT platform Sorare close to finalizing $532 million in funding appeared first on iGaming.

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Author: Peter Siu