NFT Fantasy Football platform Sorare collects $ 680 million in series B, led by Softbank-Blockchain
NFT Fantasy Football platform Sorare collects $ 680 million in series B, led by Softbank-Blockchain
On September 21, the non-fungable token (NFT) Fantasy Football platform Sorare announced that the company spent on a Softbank financing round of the BER BON 680 million US dollar. The capital increase gives Sorare a new evaluation of around $ 4.3 billion and the company is planning to open a branch in the USA.
sorare reveals capital increase of $ 680 million
non-fungable token (NFT) assets have recorded a phenomenal growth this year and the company so rarely aims to do the billion dollar industry bind. In the United States alone, the 2019 Fantasy Sports market was over $ 8.4 billion.
On Tuesday, the NFT Fantasy Football platform Sorare announced that the company has raised $ 680 million in a Softbank Serie B financing round. Atomico, Bessemer Venture Partners, D1 Capital, Eurazo, IVP and LionTree also took part in the recent capital increase of Sorare.
The capital increase is a milestone because it is one of the largest financing rounds in series B in Europe and the funds have increased the overall rating of Sorare to $ 4.3 billion today. In the announcement on Tuesday, the Sorare team said it was planning to open an office in the USA and "register the top 20 soccer leagues".
Softbank: "Sorare is located at the interface of two really exciting industries"
Sorare also plans to expand into other sports, and so far the company has licensed players of 180 football teams, including Juventus, Real Madrid and Liverpool. According to Sorare, the startup has exchanged tickets worth $ 150 million on the platform since January 2021.
"The number of Sorare users, which is actively paying monthly, rose by 34 times between the second quarter of 2020 and the second quarter of 2021, whereby the quarterly turnover rose by 51 times in the same period," emphasized the company in the announcement.
"Sorare is located at the interface of two really exciting industries in the field of digital collectibles and fantasy sports," said Marcelo Claure, CEO of the Softbank Group International and COO of the Softbank Group. Clare added:
The amazing growth of Sorare alone this year shows that football fans all over the world were eagerly waiting for the “game in the game”.
SORARE is not the only NFT platform that recorded a large capital increase of several million dollars in 2021, since a number of other NFT market platforms have obtained funds. The NFT market rarible collected over 14 million US dollar Flow blockchain.
Open Sea brought up at the end of July $ 100 million and became a unicorn company. Enjin received in a token sales for efinity NFT marketplace that supports the Polkadot blockchain. The NFT-Marktplatz Mintable also supported by Mark Cuban collected Series A in the first week of July.
What do you think that the Sorare NFT platform will bring up $ 680 million in a series B financing round? Let us know your opinion on this topic in the comments below.
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