After a $680 million funding round, Surari’s Non-Financial Token Market (NFT) wants to become an active player in bridging the gap between sports and digital entertainment.
Sorari told Cointelegraph that it is now worth $4.3 billion, and that the company plans to use new capital to expand the business through new employees and partnerships, and to support community-led programs.
In addition to working with community football programs to help disadvantaged youth and support disadvantaged entrepreneurs in sports and gaming, Sorare President Nicholas Julia explained by email that Unicorn NFT will also support women’s representation in sports. He said:
“We believe that NFT can significantly accelerate the development of women’s sports. We will actively invest in this, starting with women’s football.”
Sorare, the Parisian NFT marketplace for sports, made headlines in September after SoftBank secured $680 million in B funding.
Julia explained how Sorare would use the capital raised for business purposes, and began hiring new employees to expand the team. “We want to take on many new roles,” he said, both in Europe and the United States.
He added that the new partnerships will bring new football leagues and national teams to the NFT market. Partnerships like this require upfront payment and thanks to massive funding, Sorare has been loaded enough to sign an agreement with the top 20 leagues and top 50 national teams.
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Sorare also plans to keep some money for mobile events and marketing. “Our fantasy game is going to be mobile-centric,” Julia explained, adding that the company’s growth so far has been organic.
The last topic on Sorare’s agenda is bringing new sports to the podium. “We have been getting interest from leagues and fans around the world to re-establish our model in other sports,” Julia said.