Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Corporate deals

DEAL: Sorare raises $680 million in Series B funding round

Ajibola AkamobyAjibola Akamo
1 year ago
in Corporate deals, Cryptos
DEAL: Sorare raises $680 million in Series B funding round
Share on FacebookShare on TwitterShare on Linkedin

Sorare, a nonfungible token (NFT) marketplace for trading cards, has raised $680 million in a Series B funding round led by Japanese fintech giant SoftBank.

The Series B funding round puts the valuation of Sorare at $4.3 billion. According to the company, the latest funding will help expand Sorare’s portfolio of football player NFTs by partnering with more football leagues and associations.

Earlier this month, the platform secured its first soccer league partnership with La Liga. The platform already has NFT collaborations with well-known soccer teams like Paris Saint-Germain (PSG) who just recently acquired 6-time balloon d’or winner Lionel Messi, Liverpool and other top-tier soccer teams. Sorare also plans to diversify its NFT-based portfolio offerings to other fantasy sports.

Existing investors and high-profile angel investors participated in the funding. The existing investors who participated includes; Benchmark, Accel and Headline. The new investors include; Atomico, Bessemer Venture Partners, D1 Capital, Eurazeo, IVP and LionTree.

In July, SoftBank had led a $532 million funding round for Sorare. However, Sorare CEO Nicolas Julia denied the funding claims, which was initially fueled by insider information.

Although the soccer community has readily accepted the NFT marketplace, the United States National Football League (NFL) recently prohibited teams and members from participating in NFTs or any other form of crypto-related partnerships. An anonymous NFL member said that the new guidelines prohibit clubs from selling, promoting and advertising blockchain and digital assets in any form until further notice.

Mainstream fintech companies such as Visa, who recently bought an NFT set called CryptoPunk for $150,000, have described the NFT space as a promising medium for fan engagement as the market registered $2.5 billion in sales during the first half of 2021.

Related

Tags: National Football League (NFL)NFTNonfungible tokenSoftBankSorare

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Geregu Power becomes first to release audited accounts in 2023, share price soars 10%
  • International Organization of Securities Commissions revises its 2011 principles 
  • NBS says Nigeria’s public debt has risen to N44.06 trillion

Follow us on social media:

Recent News

COVID-19: Otedola pledges N1 billion donation for Nigeria to combat disease, Otedola backtracks, says Adenuga has redeemed N1 billion pledge to the CACOVID fund

Geregu Power becomes first to release audited accounts in 2023, share price soars 10%

January 31, 2023

International Organization of Securities Commissions revises its 2011 principles 

January 31, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics