Soccer NFT Trading Platform Sorare to Complete the Largest Round of Financing in French Tech with $530M

Football start-up NFT platform Sorare reportedly will raise 450 million euros (approximately $532 million US dollars) in the financing, led by SoftBank.

The Paris-based digital football NFT trading platform Sorare is expected to be valued at more than $4 billion once completing this round of large-scale financing. The platform will become the seventeenth unicorn technology company in France. It seems that this financing will be the largest record in the French technology sector.

According to a report by Business Insider Wednesday, other potential investors include the European fund Atomico, the French fund Eurazeo with more than $27 billion in assets under management, and the fund Blisce established by the famous French entrepreneur and philanthropist Alexandre Mars.

In February, venture capital company Benchmark, which earlier backed Ebay Inc., Twitter Inc., and Uber Technologies, led a whopping $50 million into Ethereum-powered fantasy football platform Sorare in series A round.

Sorare is a fantasy soccer video game founded on the Ethereum blockchain in 2018 that enables users to build their preferred teams and trade football player cards.

Many well-known football teams in Europe, including Bayern Munich, Juventus, Real Madrid, and Liverpool, have launched their unique non-fungible tokens (NFT) on their platforms.

As reported by blockchain.news on June 15, The French Football Federation has made history, connecting a partnership with blockchain-based fantasy soccer game Sorare to create collectable digital cards for its National Team players.