Thursday, April 18, 2024

Sorare, a $4.3 billion NFT platform, will invest in sports.

NFTs are the newest craze amongst crypto enthusiasts that gives you a unique piece of art that cannot be imitated or copied. It is great news for artists as now even they get to be a part of the crypto world and get a host at earning money from these new-age DeFi systems too.

Sorare recently raised $680 million for their NFTs and is now looking to get into the world of sports. The company has already been working with community football programs and has lent support to underprivileged sports entrepreneurs in the past. The NFT will also get some female representation in the crypto market.

Their CEO Nicolas Julia also said that the crypto coin is now raising money for capital and business purposes. So that they can expand in the States and Europe. Sorare will focus on football leagues and partner with them to expand their own firm and educate the masses about cryptocurrencies in general.

They will allocate some funds for their fantasy game and its marketing strategy. The company says that its growth has been organic till now but is looking to put more effort on the marketing front.

These new partnerships with football leagues require payment upfront and after their Series B funding, they are more than loaded to do so. Till now, they had been focusing on football but in the future, plan to replicate their model for other sports. Such diversification will help the company build a strong support base and get more viewership across all sports.

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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