Valued at $ 4.3 billion, the NFT Sorare platform will invest in women’s sports

After a $ 680 million round of funding, Non-Fungible Token (NFT) market, Sorare, wants to be an active player to bridge the gap between sports and digital entertainment.

Now worth $ 4.3 billion, Sorare told Cointelegraph that the company plans to use the fresh capital to grow its business with new hires and partnerships, as well as supporting community-led programs.

Nicolas Julia, CEO of Sorare, stated via email that the unicorn NFT would also support the representation of women in sports. He said:

We believe NFTs can greatly accelerate the development of women’s sports. We will actively invest here starting with women’s football. “

Valued at $ 4.3 billion, the NFT Sorare platform will invest in women’s sports
Valued at $ 4.3 billion, the NFT Sorare platform will invest in women’s sports

Sorare, a sports-focused NFT marketplace based in Paris, made headlines in September after completing a SoftBank-led $ 680 million Series B funding.

Julia went on to explain how Sorare would use the raised capital for business purposes, starting with new hires to expand the team. “We are looking for many new positions to be filled,” he said, both in Europe and in the US.

He added that the new partnerships would introduce new soccer leagues and national teams into the NFT market. Such partnerships require upfront payment, and Sorare is burdened enough to sign the deal with the top 20 leagues and top 50 national teams thanks to sizeable funds.

Sorare also plans to allocate some of the funds to marketing and mobile activities. “Our fantasy game will be a mobile-first experience,” said Julia, adding that the company’s growth so far has been organic.

The final item on Sorare’s agenda is to bring new sports to the platform. “We have received interest from leagues and fans around the world to replicate our model in other sports,” said Julia.

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