• Sorare and the English Premier League have signed a multi-year deal to offer NFTs of league player cards.
• The Paris-based startup will allow its 3 million users to play its fantasy football game with Premier League-specific player cards.
• The news of the partnership between an NFT start-up and one of the world’s biggest football leagues comes amidst a precipitous decline in the overall NFT market since its peak in 2021.
Sorare, an NFT platform, and the English Premier League recently entered a multi-year deal for a license to offer NFTs of league player cards. This agreement marks the latest in a string of other deals that Sorare has inked in the sports world, including with both Major League Baseball and the National Basketball Association.
The Paris-based startup will allow its 3 million users to play its fantasy football game with Premier League-specific player cards, allowing fans to buy, sell and trade virtual cards of their favorite players as part of the deal, which was initially reported to be valued at £30 million.
In 2022, total card sales on the Sorare platform amounted to $500 million, nearly doubling its 2021 total of $270 million, according to data compiled by CryptoSlam. This data also reveals that Sorare has risen to 8th place overall, with total sales amounting to $891,789 between Dec. 31-Jan. 30, a 45% increase from the month before.
The news of the partnership between an NFT start-up and one of the world’s biggest football leagues comes amidst a precipitous decline in the overall NFT market since its peak in 2021, with overall sales of digital assets plunging by more than 90%. This is why this partnership and the resulting NFTs of league player cards are so important. By creating a link between the Premier League and the NFT world, it allows for fans to be more actively involved in the success of their favorite teams.
Not only that, but it also provides a way for the league to tap into the growing NFT market and generate some additional income. It also gives the league the opportunity to get creative with their NFTs and create cards that are exclusive to them, as well as those that are available to all users.
Ultimately, this deal could prove to be a win-win situation for both Sorare and the English Premier League. It could open up a new revenue stream for the league while also providing a platform for Sorare to reach a wider audience.
