Soccer-Premier League signs NFT deal with SoftBank-backed Sorare

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LONDON (Reuters) - The Premier League is partnering with French fantasy sports platform Sorare to sell non-fungible tokens (NFTs), a sign that the sporting world is continuing to embrace digital assets despite the rout in markets.

The deal gives Sorare a four-year license to sell digital sports cards of players from all 20 Premier League clubs, Sorare said in a statement on Monday.

Paris-based Sorare raised $680 million at a $4.3 billion valuation in a 2021 funding round led by SoftBank. Many top soccer teams and sports stars promoted crypto assets - such as NFTs or"fan tokens" - to fans during the boom. Proponents say they can be used to increase fan engagement, but critics say they risk encouraging financial speculation.

Source: Financial Digest (financialdigest.net)

 

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