The English Premier League and Sorare, a French start-up, have agreed to a £120m, four-year licensing deal.
The deal between the duo will allow NFT buyers to create their teams and compete in a fantasy version of the contest.
Premier League broadcast NFT
For the first time, the 3 million players on the Sorare platform will gain access to a free competition by acquiring their favorite players in the form of a non-fungible token (NFT).
These NFTs will generate rewards based on the player’s performance. In other words, if your NFT collection has players like Lionel Messi, Kylan Mpape, and Paul Pogba, you’ll get rewarded for their real-life performance in every game.
Each card appears on the Ethereum blockchain as a separate token. Sorare players can trade cards with other players. They can then form a team of five players and the company makes money by distributing new cards to players who want to change or increase their collections.
The French start-up has witnessed a progressive trajectory since the success of its $680 million Series B round and its partnership deal with major sports brands such as Italy’s Serie A, Germany’s Bundesliga, La Liga Spain and now the Premier League.
In a statement, Nicolás Julia, Sorare’s CEO and co-founder, said the company has always sought to achieve this goal. camaraderie with the Premier League because the league has global appeal and has been home to the most iconic players for the last 30 years.
He added that the partnership is a milestone for the company because it adds to the list of its previous partnership with major sports leagues such as the National Basketball Association (NBA) and Major League Baseball (MLB).
Richard Masters, chief executive of the Premier League, said the Premier League’s partnership with Sorare represents a new way for fans to have a better league experience, regardless of their location.
