Initially, the French startup Sorare released a fantasy soccer (football) game. This year, the company is expanding to new sports. The company is launching a new agreement with the National Basketball Association (NBA) and National Basketball Players Association after working with Major League Baseball earlier this year (NBPA).
This multi-year partnership will enable Sorare to introduce an NFT-based fantasy basketball game this autumn. It will be known as,NBA. Rarely.
Players will be able to buy and sell virtual basketball player cards, just like in other Sorare games. Then, users can assemble basketball player lineups and score points based on how they perform in actual games.
This isn’t the first time the NBA has tried out NFT.
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With its game NBA Top Shot, Dapper Labs has turned memorable NBA moments into non-fungible tokens that can’t be used to buy other things. The value of these digital collectibles can go up and down over time as people buy and sell them.
It’ll be interesting to see how Sorare gets more people to play its NBA game. Sorare has two million users who have signed up, but most of them live in Europe and Asia.Sorare made a deal with Major League Soccer to add the U.S. soccer league to its game. However, basketball and baseball are much more popular in the U.S. than soccer.
The new business could attract people who already use NBA Top Shot. Some of the people who already use Sorare might be interested in basketball as well. In general, the startup’s move into basketball is a great way to reach out to new people in the U.S.
Sorare was worth $4.3 billion when it announced a $680 million Series B funding round late last year. The round was led by SoftBank’s Vision Fund 2, which was joined by Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP, and Liontree.
Behind the scenes, Sorare cards are made of non-fungible tokens that are based on Ethereum. In order to switch to ZK rollup, the company worked with Starkware This keeps transaction fees low and makes it easier for people to buy and sell cards. Sorare makes money when new cards are added to the platform. Players can then buy these new cards and add them to their collection.
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