Premier League Strikes an NFT Deal With Fantasy Sports and Marketplace Game Sorare
The English Premier League continues the tryst of sports and NFTs
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
French fantasy sports and marketplace Sorare announced that it had entered into a multiyear deal with the (English) Premier League, the world's most renowned and competitive football league. Sorare is backed up by SoftBank and counts fellow football players Antoine Griezmann and Kylian Mbappé as its investors.
British news channel Sky News in October 2022 reported talks regarding a deal worth 30 million pounds ($37.13 million) per year between Sorare and Premier League. However, no confirmation has been provided to support the same by the startup on the announcement. Sorare: Football's deal includes licensed deal cards featuring all players across 20 clubs of the league with which the global fans can now collect, buy, sell, and trade officially.
The Premier League joins Germany's Bundesliga, Spain's La Liga Santander, Italy's Serie A, and the French League 1. Static images of players such as Erling Haaland, Marcus Rashford, Harry Kane, Bukayo Saka, Kevin De Bruyne, Bernardo Silva, and Emiliano Martínez will be available to fans in the form of NFT cards.
"The way that supporters follow their favourite teams and players is evolving, and the Premier League is always looking for ways to engage with fans. Sorare's digital cards and innovative online game represent a new way for them to feel closer to the Premier League, whether they are watching in the stadium or from around the world. We believe that Sorare are the ideal partner for the Premier League, and we look forward to working closely together," said Richard Masters, Chief Executive of the Premier League in the official statement.
Sorare Managers will now be able to play with their PL star players in either the league itself or in global football competitions. The Paris-based startup has existing partnerships with 300 football clubs and teams worldwide. There is no sign-up cost or play costs. Fans will be able to draft teams of eight members, buy, sell, and trade digital player cards to build their lineup, enter into several twice-weekly competitions with their five-player squad and compete with fellow managers to win rewards.