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Benchmark Leads $50M Round for Digital Soccer Collectibles Platform Sorare
Accel Partners and soccer star Rio Ferdinand also joined the Series A investment round.
Sorare, a platform that provides digital soccer collectibles in collaboration with big-name teams, has raised $50 million in Series A funding to grow its community and launch a mobile application.
STORY CONTINUES BELOW
- In an emailed announcement Thursday, Sorare said the funding round was led by venture capital firm Benchmark, which backs Twitter, Uber and Snap.
- Other investors include Accel Partners; soccer stars Rio Ferdinand, Oliver Bierhoff and Antoine Griezmann; entrepreneur Gary Vaynerchuk and Reddit co-founder Alexis Ohanian.
- Sorare said it is taking fans into a "new era of online football fandom" with its blockchain technology-backed digital collectibles.
- These are represented as non-fungible tokens (NFTs), with over 120 soccer clubs including Juventus having launched tradable digital cards on its platform.
- “As world football has shifted from local supporters to global fanbases, football fans are looking for new ways to be connected to the game, the players and other fans,” said Gerard Piqué, strategic adviser at Sorare.
Read more: FC Barcelona Footballer Invests $4.3M in Fan Token Platform Sorare
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
