The fantasy football game worth $4.3 billion, Sorare, has entered into a four-year-long deal with the UK Premier League. The deal will license official Premier League player cards as NFTs and allow players to purchase, trade, and make use of them. Sorare currently has 3 million users around the globe who compete against each other in five-a-side games with the chances of success based on real players and their performances.
According to Sky News, the deal is reportedly worth $30 million per year, though we don't yet know the specifics of the financial terms of the agreement. The Premier League are purchasing equity warrants in Sorare, giving them the option to have a stake in the firm later down the line. Sorare has also said that they will be adding two new features to the game; giving players the opportunity to compete with league-specific playing cards and a "financial fair play" aspect, preventing users from consistently choosing and playing with the highest quality teams.
Despite the current NFT bear market, Sorare has seen plenty of success. Backed by Japanese tech investor, SoftBank, and top French footballer, Kylian Mbappe, the total cards traded on the platform amounted to a huge $500 million last year, double the amount in 2021.
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