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Sunday, April 21, 2024
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Sorare Secures NFT Deal With La Liga

La Liga/Design: Alex Brooks

Blockchain digital collectibles platform Sorare has secured a deal with La Liga — the first elite European soccer league to sign a major NFT partnership.

Financial terms were not disclosed, but the agreement is reportedly long-term and exclusive, with the league receiving a royalty on sales.

La Liga will offer all of its players NFT fantasy football cards through Sorare. The platform already has deals with Liverpool, Bayern Munich, Paris Saint-Germain, Juventus, and plans to partner with the world’s top 20 soccer teams by the end of next year.

Sorare said it’s sold more than $130 million in NFT cards this year.

  • February: Sorare raised $50 million in Series A funding.
  • April: It signed five Italian teams, bringing its Serie A total to 11.
  • June: The platform signed licensing deals with the German Football Association, the French national team, and the Royal Belgian Football Association.
  • July: Reports surfaced that it was closing in on $530 million in funding, which would value the company at more than $3.8 billion.

Sorare has over 500,000 registered users and expects to process at least $200 million in transactions by the end of the year.

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