Sorare concludes $680m funding round

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Last Update: September 21, 2022

2 mins read

French startup Sorare has concluded a $680m funding round, putting the company's total value at $4.3bn.

Sorare specializes in the production of NFT trading cards which are used in its fantasy soccer game.

The Series B funding comes on the tail of a Series A round which concluded with $50m added to the company's war chest in February.

Presently, the company features more than 175 licensed clubs in its game, including the leading soccer powerhouses from the world of soccer, including Juventus, Paris Saint-Germain and Barcelona.

Sorare intends to use the funding to continue the company's growth trajectory and add more teams, leagues and even sports.

Sorare's focus so far has been soccer, but this may change with more viable options emerging every day.

While Sorare resembles NBA Top Shot, where users buy NFTs that represent a special moment from an NBA game, it has a more engaging element similar to a soccer manager game.

The cards are not just collected to prove ownership or bragging rights. You can then leverage your cards in a fantasy soccer game where your teams play against others. The cards are also tradable and you can auction them off, taking advantage of supply and demand, and adding value to your account.

Sorare's success has skyrocketed during 2021 with the company boasting more than 600,000 registered consumers in 2021 so far.

Numerous investors joined the latest funding round, including Accel, Benchmark, Headline, Atomico and D1 Capital.

You can experience various sports betting options at crypto bookies such as Sportsbet.io, Cloudbet and FortuneJack.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.
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