In a $30 million partnership, the FA has partnered with the NFT Fantasy Sports brand Sorare. The major announcement sees the official playing cards of all 20 English Premier League clubs added to the NFT collection by the Paris-based Web3 company.
In addition to announcing Premier League NFTs, Sorare also revealed a number of gameplay enhancements. This includes being limited to opponents with cards from the same league.
Sorare also introduced capped-mode tournaments, which limit high-value players to each competition, to increase the difficulty. It is anticipated that you will face greater difficulties when participating in your preferred league as a result of these newly implemented features.
As the world’s largest football league, Sorare’s partnerships with the French, German, Spanish, and Italian leagues now include the Premier League. When combined with additional agreements with the American MLS, NBA, and MLB leagues, it is evident that Sorare provides sports fans worldwide with unparalleled digital experiences.
Sorare Bucking The Trend
The value of non-fungible tokens dropped significantly during the crypto winter. According to CryptoSlam’s data, the average price of NFT as of December 2022 was $143.22, a significant decrease from the previous year, when it stood at $383.73.
Additionally, trading activity has drastically decreased. The total amount sold by NFT decreased by 78%, from $3.1 billion to just $678.2 million. In the same time frame, bucked the downward trend with card exchanges totaling approximately $500 million last year, up from approximately 270 million in 2021.
Sorare has now reached an impressive 3 million users as of this week. The FIFA World Cup, which was held in Qatar in November and December of last year, is largely responsible for the expansion. Sorare’s platform saw an impressive 600,000 new users during the tournament’s four weeks.
This was helped by Lionel Messi and Kylian Mbappé, ambassadors for Sorare, reaching the World Cup Final. The first made a name for himself as the greatest athlete ever by winning the renowned golden trophy for his home country of Argentina.
Sorare is sweeping the sporting markets Worldwide
Even during the crypto winter downturn, sorare keeps growing. The brand is becoming a major player in Web3 and the sports gaming industry because it offers all of the best European football leagues.
It is evident that Sorare is on track to enter the world’s largest market with its current base in the United States, where football is gaining popularity thanks to teams like Manchester United, Liverpool, and Leeds United.
Football cards are excellent use for NFTs, and with all major leagues joining, Sorare may become Web3’s equivalent of EA Sports and Panini.
