Football trading card phenomenon, Sorare, continues to cement its status as top dog with a massive round of Series B fund raising. Setting a new record for the NFT sphere, Sorare raised a monumental $680 million for their cause.
Sorare have established themselves as a force to be reckoned with after securing the incredible financial backing and being on the receiving end of the biggest single investment in NFT history. The bulk of the funds came from financial big hitters SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse and Atomico. This takes the company valuation of Sorare up to a staggering $4.3 billion.
Sorare will use the funds to expand their gaming enterprise by opening a US branch of operations and as such, opening up their trading card vision to a new range of sporting organizations with the likes of American Football, Basketball and Baseball on their radar.
The trailblazing NFT platform has seen unprecedented growth in 2021. Since January 2021, $150 million has changed hands on Sorare, which now has over half a million registered users to its name. It’s a cut-throat niche in the NFT market, the world waits with baited breath to see how their competitors will respond.
Find out more >> Here
Want more? Connect with NFT Plazas
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.