Blockchain Soccer Gaming Start-Up Sorare Raises $50M

In recent times, a blockchain-related soccer gaming startup has its total funding of a staggering $60 million. The funding was collected through social media apps like Twitter, Instagram, and Snapchat, and the money was brought in by huge profile investors that know these types of businesses from in and out. The first round was started by Benchmark – an investment-related enterprise that has funded Twitter, Uber, and Snapchat. All these companies have made it big in the industry now, generating billions on their own through different methods like advertising and digital marketing.

Similarly, another investor- Accel partners led the investing at the very start of the fundraising; Accel is famous for investing in big guns like Facebook and Spotify- both of which are pioneers in their respective fields. Some other famous investors include Gary Vaynerchuk, also known as Garry V- he is an entrepreneur and content maker famous for his videos that motivate many young entrepreneurs who are just stepping into the field.

Application Launch

Consequently, as more and more investments are brought in, Sorare is looking to outgrow its ecosystem, which includes the launch of an application that will onboard the 20 biggest football leagues. Sorare explained that they want the fans to have a hands-on experience where they have a space to celebrate and share their love for football with other fans.

Sorare was launched in 2018; they started with creating a digital version of collectible on the Ethereum blockchain providing non-fungible tokens to the users. Adding to this, the company provides its users with an experience worth having that helps them manage their players easily while earning prizes.

Changing Dynamics

The strategic advisor at Sorare, Gerard Pique’ quoted that the platform was built, keeping the shifting global dynamics in mind- their policy was to adapt quickly to the changes. Blockchain and cryptocurrency startups have been consciously exploring the soccer sector to bring new ideas of fan engagement using revolutionizing blockchain technology. Socios and Chiliz showcase some of the incredibly hard work of the industry that collectively provides blockchain fan tokens for world-famous soccer clubs like FC Barcelona, Juventus, and Paris Saint-Germain. At the start of this week, Polish Legia Warsaw has become the new member of Chiliz and Socios.

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