Sorare signed a four-year licensing deal with the Premier League that will see every player from each of the English top-flight soccer clubs added to the NFT fantasy sports game. The deal allows NFT purchasers to build their own teams and compete in a fantasy version of the competition, according to Soarer’s post on Medium.
Each card is registered as an NFT on the Ethereum blockchain. Sorare players buy and sell cards from other players, and then can put together a lineup of five players and earn points based on real-life performances. Sorare frequently issues new cards for buyers to add to their collections — that’s basically how the company generates revenue.
The partnership means Sorare now has four of the ‘big five’ European soccer leagues on its platform, complementing deals with LaLiga, Bundesliga, and Serie A, and the National Basketball Association (NBA), Major League Baseball (MLB) and Major League Soccer (MLS). With this new Premiere League partnership Sorare users will find all 20 clubs on the platform.
"Sorare's digital cards and innovative online game represent a new way for fans to feel closer to the Premier League whether they are watching in the stadium or from around the world," said Premier League CEO Richard Masters.
Although Sorare doesn't offer sports betting, the speculative nature of trading NFTs that are valued based on real-world events is a fine line between what does and doesn't constitute as gambling. Sorare is currently under pressure from both U.K. and French gambling regulators, with investigations looking into whether Sorare requires a gambling license. First the company denied any gambling activity, but then said it would expand free access to its games.
The sports world is definitely showing interest in Web3: we recently wrote about Crypto.com launching FIFA NFTs in partnership with Coca-Cola, and about the multi-year partnership between Upland metaverse and FIFA that officially began with the opening of the World Cup in Qatar. We continue to observe the relationship of sports and Web3.