NFT: Sorare signs with the NBA and expands to basketball in the United States

Continuing its conquest of the American market, the French NFT champion is expanding its concept to one of the most popular sports across the Atlantic.

Sorare is expanding very quickly. The young French company announces this Wednesday a partnership with the famous American basketball league, the National Basketball Association (NBA) and the National Basketball Players Association (NBPA), which represents all professional players in the League.

Sorare is going to offer a basketball game based on its flagship “fantasy football” product, combining digital cards (NFT) and player performance on the pitch. His new basketball game should be released this fall, for the new 2022-2023 season. “With Sorare, we see significant opportunities to grow our fan community and grow the NBA worldwide.“says Adam Silver, the president of the NBA.

Include multiple sports in the portfolio

In July, Sorare had already uploaded a similar game for baseball, having signed in May with Major League Baseball. Sorare has set himself the goal of integrating several American sports into his portfolio as quickly as possible. The company primarily targets major popular sports, with large audiences. “The NBA and its players have been at the forefront of digital experiences and collectiblesadds Nicolas Julia, CEO of Sorare.

To help her achieve her goal, Sorare had taken on world tennis star Serena Williams as an advisor to her board of directors. Other big names in sport have joined him as brand ambassadors, like Kylian Mbappé (who is also an investor) or Zinédine Zidane. His ambition, insisted from the beginning Nicolas Julia with his co-founder Adrien Montfort, is to create “the largest sports entertainment company“.

Attentive regulators

This summer, the French company also announced its partnership with eleven Ligue 2 clubs, the objective being to ” become a partner of all Ligue 2 clubs “. Sorare wants to launch a competition reserved for the second European divisions. In July, she announced her agreement with the powerful Serie A in Italy, one of the most watched football championships in the world. Sorare has already convinced more than 280 sports organizations to work with her.

It claims more than two million subscribers to its fantasy football game worldwide. The French company has also attracted the attention of several regulators, including in France the national gaming authority (ANJ). She wants to make sure that Sorare’s activity does not resemble a sports betting site. “When you create a new market, there is no framework, you need to have proactive conversations with regulators to build this framework“explained at the end of August Nicolas Julia in an interview with the regional daily Ouest France. He says he is confident on the subject.

Faced with the volatility of cryptocurrencies – the game is based on the Ethereum blockchain and uses Ether tokens – the young leader also confided in studying “the possibility of moving towards a stable currency, such as stablecoins which can be interesting, which we are exploring and on which we could communicate in the months to come.”

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NFT: Sorare signs with the NBA and expands to basketball in the United States

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