Monday, March 1, 2021
Home Latest News Business Barcelona FC Player Gerard Piqué Invests in the Sorare Fantasy Football Platform...

Barcelona FC Player Gerard Piqué Invests in the Sorare Fantasy Football Platform based on Ethereum

By investing $4.3 million in the fantasy football platform Sorare, the Barcelona FC captain has announced his official inception into the non-fungible token (NFT) industry.

Gerard Piqué entered a seed extension round led by U.S.-based fund Cassius Family, according to Sifted, which added a total seed of $8.6 million to the network, enabling users to buy and exchange digital cards for professional footballers through NFT.

In addition, as per the company’s official statement, as part of the deal, the Barcelona player will join the Sorare team as a “strategic advisor.” Co-founders Nicolas Julia and Adrien Montfort, and Christain Miele are among the board members.

Sorare utilizes Ethereum blockchain technology to create digital player cards that can be used or sold for real money to create fantasy soccer teams. The organization said this year that nearly 80 football clubs, including Porto, Zenit, Bayern Munich, Juventus, among others, have entered the site.

On the motives behind his latest business venture, Piqué commented: “I see a huge potential in the sports gaming segment in a digital economy where the attention of audiences is the single most important unit of currency. I’m looking forward to helping Sorare expand their partnerships with football leagues, clubs, and players worldwide to build the best fantasy experience that exists.”

He also acknowledged the need for his portfolio to be diversified ahead of possible retirement. In this kind of business, he foresees a promising future, adding, “if you don’t start doing these things when you’re a player, I think that when you leave football there’s a big hole where you don’t know what to do.”

In 2020, Sorare announced that its sales skyrocketed over 1,000 percent. In fantasy football and sports cards, their forecasts predict increases that may be worth $5.4 billion and $18.6 billion, respectively.A recent news study of non-fungible token (NFT) patterns showed that 47 percent of correspondents had heard of NFT, and among these, 63 percent of them had only a rudimentary knowledge of it, while 57 percent of them had never seen it.

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