Five Championship clubs have signed lucrative deals with the NFT company Sorare, with more expected to follow. But what really is the 'fantasy football competition', how is it regulated and where does crypto fit in? josephmdurso explains...
Sorare, the non-fungible token company that has sponsorship deals with many of Europe’s biggest football clubs and leagues, is partnering with five clubs in the Championship to launch its “digital trading cards”.
Some of football’s biggest clubs and leagues, including the Bundesliga, Serie A and La Liga, are already allowing the company to feature their players on the digital cards — which the game’s players collect, trade and manage to earn points based on footballers’ real-life performances — in exchange for a slice of Sorare’s revenue.
The French company was valued at $4billion after a major investment last year and counts Kylian Mbappe, Serena Williams, Gerard Pique and Rio Ferdinand among its ambassadors and investors.
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