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Sorare, a French blockchain gaming startup, becomes the official NFT Fantasy partner of the NBA. The Ethereum-based sports game has signed a multi-year partnership with NBA and NBA Players Association for the rights to use official NBA league and team logos. Sorare will launch the first free-to-play NFT-based fantasy basketball game, which will come out this fall during the NBA 2022-23 season.
Sorare allows players to collect NFT cards that represent real-life sports players. With the collected cards, users can build a team, enter tournaments based on real-life athlete performances, and gain cryptocurrency rewards. The game already has over $150 million in annual revenue and has closed a $4.3 billion valuation during the last investment round. A few investors included SoftBank, Accel, and Benchmark. Sorare already has two million registered users across the globe.
The game offers NBA fans the chance to interact with the league and compete through a unique experience that allows them to create a list of NFTs representing NBA players and teams while earning points depending on the real-life player’s performances. It’s free to play for anyone over 18.
Sorare has previously partnered with MLB (Major League Baseball) to launch a fantasy baseball game. The game allows players to win matches while trading and collecting NFTs. Tournament winners gain valuable NFT-card prizes. The platform also has licenses with over 280 global soccer clubs, including Germany’s Bundesliga, Italy’s Serie A, and Spain’s La Liga.
NBA Commissioner Adam Silver said that the collaboration with Sorare will provide NBA fans with a novel way to engage with the team and players.
“With Sorare’s emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world,” Silver said.
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