Sorare, a global fantasy football game, took to Twitter to share the update that it has entered into an exclusive partnership with Serie A, Italy’s top football league. The exclusive partnership starts with the current season, 2022-2023, and is expected to continue for multiple years.
Serie A has become the 12th football league to join the club since Sorare started its operations in 2019. Other partners include Bundesliga, La Liga, Major League Soccer, etc.
Sorare and Serie A are now looking to release non-fungible token cards through this exclusive partnership. The non-fungible token cards will start players and clubs in the game, and these cards can be used and traded to play a fantasy game.
The Italian market has become a strong base for the rise of Sorare. Therefore, it has chosen to sign the partnership and further its Italian fanbase in the coming days. Another sector that Sorare is looking to target is the avid supporters of Italy’s prestigious football division.
Nicolas Julia, the Founder & Chief Executive Officer of Sorare, acknowledged that Italy is the fastest growing market for the platform, with Italian customers being the second largest community globally.
Nicolas Julia stated that the platform is aware of the market demand for its fantasy games and collectibles based on the growth it is experiencing.
Although Serie A has just joined the club, it has already been active in the blockchain space for some time. The two past deals that make this statement evident are:-
- Ongoing fan token deal with Socio; and,
- Partnership with OneFootball, a football publisher.
The partnership with OneFootball is specifically directed toward launching NFTs that feature the football moments of Serie A.
Sorare is not restricting itself only to football and is constantly looking to expand its horizon by getting players from different sports on board. With mutual benefits in mind, the platform has succeeded in getting Major League Baseball and PGA Tour to join hands for the venture.
Individuals have also struck a chord with Sorare to amplify the game’s publicity. These individuals are Zidane and Mbappe.
A feather in the cap came when Sorare secured investment from SoftBank, bringing its valuation to a whopping $4.3 billion. Something that is estimated to make its future investment negotiations more pricey.
It will not be easy, though, as Sorare recently came under the scanner of the UK Gambling Commission, which could or could not have, cost the platform its NFT deal with Premier League.
Football clubs continue to find ways to connect with their fans with increased engagement while keeping an eye out for attracting more revenue. Partnerships like the one between Sorare and Serie A have proved to be effective in both cases.
Most of the revenue comes from NFT licensing and other digital avenues.