"I find myself watching a Japanese match at 11:00 am, a Belgian one at 2:00 pm, Ligue 1 in the evening and Major League Soccer at 4:00 am," said Bochereau. "Straight away, I was hooked," said Julien Bochereau, a 36-year-old journalist. The company also runs Mercato, a resale market-and cards here are sometimes traded for millions of dollars.įor now, Sorare takes "no commission on Mercato, but that may be what comes next," said Julia.Ĭelebrity investors including former Manchester United star Rio Ferdinand, France forward Antoine Griezmann and Chelsea captain Cesar Azpilicueta have helped drive the clamour to get hold of the cards.īut with Sorare falling somewhere between a game and an investment, players must be mindful of the highly speculative nature of the trades-and the volatility of the cryptocurrency they are made in. Sorare makes its money by taking a commission on auctions of the NFTs. But as always with collectibles, the rarest are the most coveted.Ī unique Cristiano Ronaldo card sold for nearly $290,000 in March, breaking the site's records.Ĭelebrity investorsBlockchain, the technology underpinning cryptocurrency transfers, is used to authenticate the cards' rarity, with the most sought-after existing only in batches of 10, 100, or as unique copies.
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Newcomers can play with free cards, which exist in unlimited quantities. Using the cryptocurrency Ethereum, players can buy and sell digital images of footballers in NFT form, with their value fluctuating according to their performances on the pitch. Sorare's game blends old-fashioned football sticker collecting with new technology, financial speculation, and aspects of hugely popular "fantasy football" games where fans can build their dream squads. "Our ambition is to be the world's first entertainment company within the sports sector," co-founder Nicolas Julia told AFP, adding that Sorare was eyeing a launch on the stock exchange "in the next few years". The funding round-equivalent to 580 million euros-caps a meteoric rise for Sorare, which was only founded in 2018 and now ranks as France's most valuable startup, with international football stars among its investors. Prices of crypto fall as El Salvador adopts bitcoin as legal tender
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