“An unregulated time bomb” or a fantasy game that will revolutionize football? – Athleticism

In September, financial media reported breathlessly the astonishing birth of a new tech ‘unicorn’ – a company valued at over $ 1 billion – in the unexpected form of a fantasy football startup in September. line based in Paris.

A $ 680 million investment from management company Softbank valued Sorare, a game in which players buy in cryptocurrency, earn and manage a virtual team of digital player cards (NFTs, or non-fungible tokens), to $ 4 billion. French President Emmanuel Macron praised the company on LinkedIn for breaking the European record for a tech funding round. Later reports suggested $ 150 million in sales between January and September.

Some of the biggest football clubs and leagues, including the Bundesliga and La Liga, are ceding rights – allowing the company to showcase their players – in exchange for a slice of Sorare’s income. The company claims to have 216 officially licensed clubs, including Atletico Madrid, Barcelona and Bayern Munich.

Liverpool were the only Premier League club to sign up, but their deal expired in August. Atletico Madrid said their deal was made via La Liga, adding that they had carried out “a due diligence and verification process”.

These huge football institutions promote Sorare to their fans on their social media accounts, as do other top footballers and former players including Antoine Griezmann, Gerard Pique and Rio Ferdinand.

French striker Griezmann was one of the first investors in Sorare and is also an active player.

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