Wednesday, May 22, 2024

During the opening night of Web Summit 2021, Sorare’s CEO offers a daring vision for NFTs

In the world’s biggest tech conference, Web Summit 2021, Carlos Moedas, Lisbon’s mayor articulated a fond wish. In his opening statement he said that it was his dream to see Lisbon as the “capital of innovation in the world.”

Joao Leao, Portugal’s Minister of Finance declaimed that Portugal was the place to live and invest. It was also the ideal place to do business. Portugal is tolerant, open to difference, and multicultural.

Frances Haugen, the Facebook whistleblower was one among the many prominent speakers. Other speakers included Black lives Matter co-founder – Avo Tometi, and Nicholas Julia – the CEO and co-founder of Soarer – the French NFT fantasy gaming firm.

Sorare’s Vision for NFTs

NFTs are digital certificates for art, music, videos, etc. NFTs are stored in digital wallets. Meanwhile, the actual physical assets can either be stored on-chain or off-chain, based on their size. Soarer even allows players to have their own football teams. Digital player cards are held as NFTs. These NFTs can be purchased, sold and transferred.

Nicholas Julia, Sorare’s CEO, proclaimed that over the next decades NFTs will come to become the underlying technology on the web for anything of value. The value could be financial or personal. Julia added that, NFTs will be invisible but could also represent your identity on the web.

Soarer was founded in Paris about 3 years ago. The firm’s valuation has, meanwhile, grown from $270 million to $4.3 billion. In its latest round of fundraising, SoftBank was the lead investor. The platform has grown organically by over a million users. Judging by the firm’s profile on OpenSea, the NFT marketplace, Sorare’s total trading volume is in excess of 50,200 ETH.

Soarer aims to grow beyond gaming NFTs. Soarer wants more people to own digital goods without the complications of crypto.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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