European Football NFT Platform “Sorare” Raises $680M

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Full article by Eli Tan found here.

Key Points

  • Sorare, the European fantasy soccer and digital collectible platform, has announced a $680 million Series B raised on Tuesday. This is the largest fundraiser in NFT history.

  • Lead investors include SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse, and Atomico.

  • Sorare is estimated to now be worth about $4.3 billion. The platform claims to have traded over $150 million worth of digital cards since January and has over 600,000 registered users. From Q2 2020 to Q2 2021, the companies sales have increased 54 times over the previous year.

  • CEO Nicolas Julia has said that he sees “an opportunity to introduce the same proven model to other sports and fans worldwide” and will be opening a U.S. office in the near future.

  • The platform already hosts NFTs from some of Europe’s most popular teams such as Bayern Munich, Juventus, Real Madrid, and Liverpool.

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