‘An unregulated timebomb’ or a fantasy game that will revolutionise football? – The Athletic

In September, the financial media reported astonishingly the astonishing birth of a new technology “Unicorn” – a company valued at more than $1 billion – unexpectedly for a Paris-based online fantasy football startup.

An investment of $680 million from management company Softbank valued Sorare, a game in which players buy cryptocurrency, win and manage a virtual team of digital player cards (NFTs, or non-fungible tokens), worth $4 billion. French President Emmanuel Macron praised the company on LinkedIn for breaking the European record for a technology funding round. Subsequent reports suggested sales of $150 million between January and September.

Some of football’s biggest clubs and leagues, including La Liga and La Liga, are ceding their rights – allowing the company to feature its players – in exchange for a portion of Suryer’s revenue. The company says it has 216 officially licensed clubs, including Atletico Madrid, Barcelona and Bayern Munich.

Liverpool was the only Premier League club to join but his contract expired in August. Atlético Madrid said its agreement was reached through La Liga, adding that it had carried out its “due diligence and verification process”.

These huge football organizations promote Surari to their fans on their social media accounts, as do other notable footballers or former players including Antoine Griezmann, Gerard Pique and Rio Ferdinand.

France striker Griezmann was an early investor in Sorare and is also an active player.

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