Just within a year of launching Sorare, a top-notch blockchain game, it has swiftly become profitable and has recently raised a highly attractive seed round.
Sorare, an Ethereum blockchain-centric universal fantasy football game, where one can purchase, trade, and play games with official digital player cards, recently announced that it has released a funding seed totaling 4 million USD.
Launched in March 2019, Sorare has already sold pro player cards, above the rate of $1 million. These cards owned by users are referred to as inimitable non-fungible token (NFT) assets.
The trading capacity on the site from last December, through June 2020, has however leaped from 30, 000 USD to 35, 000 USD, and the company has declared that it has already been lucrative, prior to the broadcast of the seed funding.
Being a global venture, led by e ventures, Sorare permits contributions from new investors such as Fabric Ventures, Semantic Ventures, and Partech, and also World Cup champion Andre Schurrle, present-day, Borussia Dortmund and German pro soccer.
Other existing Sorare investors who similarly contributed to the funding seed are ConsenSys; which funded an editorially independent Decrypt and Seedcamp.
The idea behind the seed funding is for the expansion of its team, across the globe and to garner the game experience and as well increase further professional leagues and clubs.
At present, the game can boast of players from 76 skilled teams across the globe.
Atletico and Juventus are professional football clubs that fall under this category. However, it has recently included players from other prominent football clubs.
In a public announcement made by Nicolas Julia, CEO, Sorare, he revealed that the mission of Sorare, is to make imaginary football go worldwide and recompense with some novel type of collectibles which are digital football cards.
To buttress this claim, he disclosed the huge amount of collectibles that people buy on a yearly basis, which is about 370 billion USD.
As such, the team feels elated to have the support of a massive group of investors who are devoted to advancing the implementation of fantasy football.
Sorare has signed up contracts with over 90 football clubs at the present moment. This includes clubs that are not even in-game already.
Meanwhile, Sorare hopes to have additional 150 teams and five leagues sign up with them at the year-end.