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Sorare, a new fantasy football game from a French business, raised $680 million in its Serie B funding round from top internet investors. At the same time, the startup’s valuation was pegged at $4.3 billion.

SoftBank Vision Fund, IVP, Liontree, Bessemer Ventures, D1 Capital, athletes Antoine Griezmann, Gerard Piquet, and others were key investors in the finance round. In addition, the investment included current Sorare sponsors Accel, Headline, and Benchmark. The cash will be used to create a new office in the United States, expand the team’s “sports coverage,” and develop a mobile app.

SoftBank leads $680 million funding round in NFT fantasy soccer game Sorare

Sorare was founded three years ago and has since grown to become one of the most popular venues for buying, trading, and exchanging NFT cards with notable football players from across the world. Developers also employ non-fungible tokens as prizes for virtual tournament winners.

More than 600,000 users joined yesterday, and Sorare’s trade volume has exceeded $150 million since January 2021. In the second quarter of 2021, the firm grew its trading volume by 51 times over the same period in 2020, while the number of NFT customers increased by 34 times. Among the 180 football clubs that have become partners of the platform in player licensing are Paris Saint-Germain F.C., Juventus F.C., Liverpool F.C., and F.C. Barcelona.

According to CEO Sorare, they envision American football, baseball, and basketball as potential “goals.” The startup plans to apply the same fantasy football concept to these sports, bringing even more followers to its platform from all around the world. He also stated that he is unconcerned about potential competition in the European market, referring to Sorare as the only company that has been able to bridge the gap between play, collection, and use for the whole history of NFT sports.

As a reminder, Sorare raised $50 million in its Series A funding round in the winter of 2021; therefore, the present result of $680 million is amazing compared to the prior result.

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