Sorare Partners with NBA for New NFT Fantasy Basketball Game
French
fantasy game startup, Sorare inked an agreement with the National Basketball
Association (NBA) to build a non-fungible token (NFT) game under its license,
allowing the company to use team names and player likenesses from the league.
The company, which had already signed similar agreements with North America’s
Major League Baseball (MLB) and some European Soccer Leagues, including the
Spanish La Liga, is now the official NFT partner of the NBA.
Sorare to Launch NFT-Based Fantasy NBA-Licensed Game
Sorare,
a French fantasy NFT game company, has announced a new partnership with the
National Basketball Association (NBA) of North America to build a new NFT-based
game. The company announced it has signed a multi-year agreement to be the
official NFT partner of the league, which will enable the use of the likenesses
of players, teams, and the league in its new products.
The
new game will allow users to build a team of NFT card players to win points
depending on the real-life performance of the players. The team will also be
able to participate in a series of fantasy challenges on the Sorare platform.
NBA Commissioner Adam Silver stated:
"Our
partnership with Sorare will give NBA fans an entirely new way to engage with
our teams and players. With Sorare’s emerging NFT fantasy platform, we see
significant opportunities to broaden our community of fans and grow NBA
basketball around the world."
This
is not the first foray the League has made into the blockchain. Dapper Labs,
the company behind the Ethereum game Cryptokitties, also partnered with the NBA
to launch Top Shots in October 2020, achieving significant success.
Nicolas
Julia, co-founder, and CEO at Sorare, said:
"Basketball
is one of the most popular sports in the world, and we are excited to bring
fans even closer to their favorite teams and players through Sorare-NBA."
Sorare’s Evolution
This
new partnership introduces the third sport to Sorare’s fantasy platform, having
already reached similar agreements with similar leagues in different sports and
countries. Last September, the platform partnered with the Spanish La Liga, one
of the most recognized soccer leagues in Europe, and also with its German
counterpart, the Bundesliga.
The
company inked a similar agreement with the MLB
(Major League Baseball) to introduce baseball to its platform last May,
becoming the official NFT partner of the association.
With
its latest fund injection, Sorare reached a valuation of USD 4.3 billion,
raising USD 600 million in its Series B funding round in September 2021.
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