Blockchain-based Game Sorare Raises $50 Million in Funding Round

Sorare is a game based blockchain technology as it relies on Ethereum blockchain for its transactions. The fantasy game of soccer has raised a humongous sum of $50 million. The huge sum has brought their total funding to $60 million. The reason behind the instant jump to $50 million was the fresh series A round in the soccer game.

Sorare is a soccer fantasy platform where users can trade players and earn prizes. This transaction and trade system is based upon and applied with Ethereum network.

Benchmark was the leader in the funding round. Benchmark funds popular online platforms like Uber, Snap, and Twitter. Accel Partners, which is famous for supporting Facebook and Spotify was on the list of leading investors. Alexis Ohanian, the co-founder of Reddit, was also one of the generous people at the event. CEO of VaynerMedia Gary Vayner Chuk contributed the funds. A soccer player from the Barcelona team Antoine Griezmann also supported the event monetarily.

Future of Sorare

Sorare has already decided to utilize the endowments as well. The soccer gaming platform plans to expand its circle and approach towards more people. The idea involves launching a Sorare mobile app that will interest the majority of cell phone users. People at Sorare have also decided to take 20 international soccer leagues on board. Sorare aims and intends to create a platform where players can enjoy and share their emotions through an online game of football. The soccer game wants to make this ideology of fantasy football a reality.

Gerard Pique, Strategic advisor at Sorare commented that Sorare intends to meet the significant requirements needed for the transition into digital platforms and user-friendliness. Pique explained that the supporters of football teams have expanded and reached other regions. So, the fans are seeking other exciting ways and platforms to reach and enjoy the game and its essence.

Many startups are trying to benefit from the cryptocurrency and football craze to expand fan engagements and excitement. Chilliz and Socios are similar blockchain Soccer startups that are working to provide soccer excitement to fans with the help of the latest technology. These startups are also responsible for Internationally popular soccer clubs receiving fan tokens through blockchain technology. Legia Warsaw is the latest football club to join Chilliz and Socios.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Switzerland Sets to Use Blockchain for Supply Management

A very effective way to utilize blockchain technology is for managing the chain of supply. This chain is no longer a linear one from producer to consumer but now contains multiple sequences of producers, partners, clients, agents, etc.; hence, the use of blockchain is of high importance as it would enable assets to be traced […]

Coinbase Ticker COIN to Go Green on NASDAQ Today

The largest crypto-based enterprise and exchange platform Coinbase, has joined the ranks of public listed companies at NASDAQ. The COIN ticker is not just a new face on the block, but it has managed to make a grand entry into the cut-throat stock market in a manner that it is impossible to ignore its presence. […]

Collectors of Art Would be Able to Purchase New Token by Burning NFTs

The mysterious and successful NFT artist Pak has recently announced the launch of a new token, ASH. However, not every other investor would be able to purchase this token with digital assets or fiat currencies. A person who wants to own ASH would have to be willing to burn the NFT artwork under their ownership.  […]

SEC Actions Putting Bitcoin and Ethereum Investors at Risk, another Crypto Lawsuit

Yet another blockchain enterprise has gone under the radar of the Securities and Exchange Commission of the United States (SEC). LBRY Inc. is a blockchain-based and decentralized file sharing and payment network. The blockchain-based service is unique in a manner that it allows the users to get access to social media content, streaming services, and […]