Premier League Inks Deal With Digital Trading Card Platform Sorare

Jan 31, 2023 | wjb news

The Premier League Open has cooperated with Sorare, a digital transaction card company, to expand its non-replacement token (NFT) products.

Sorare pointed out in an online article on Monday that the agreement between the English Football League and the NFT Wonderful Sports allows NFT customers to establish their own teams and actively participate in the Wonderful Games. According to CityAM, the transaction will continue for four years, with a total amount of 12000 euros (US $150 million).

Sorare offers a completely free game that allows 3 million users to play football stars based on the collection of irreplaceable tokens. Subsequently, this NFT was submitted to an imaginative elite team, which created rewards based on the performance of the real world. There is also a market competition on this website. Customers can purchase limited resources NFT to obtain higher profits in digital currency. This NFT can also trade with other users.

The company raised US $680 million in B-round equity in September, with a valuation of US $4.3 billion, which deeply attracted the investment of SoftBank Vision Fund and LionTree.

The Premier League has joined more than 280 world football teams and all 30 major league football teams in London.

Richard Masters, CEO of the Premier League, said in a statement: "Solare's digital card and innovative online games provide fans with a new way to get closer to the Premier League whether they watch it in stadiums or around the world.".

In October, Sky News said that the Premier League planned to hold talks with 20 clubs to discuss reaching a multi-year agreement with Solare. Insiders told the news media that the Alliance was on the verge of signing an agreement with CONSENSYS, a blockchain software company.

The news that first appeared in 2021 said that the Premier League Open had adopted a "slow and prudent" way to cooperate with data encryption institutions, providing an effective way for fans to participate.

Sky News also reported that it had discussed the independent trade between the Premier League and Dapper Labs, the founder of the NBA's top pitching team.

At this stage, Solare is under the pressure of British and French gambling regulators to investigate whether Solare needs a gambling business license.

In October, the company said that it was "very confident" not to provide gambling in any way, although a month later, it gave in to the pressure of work and said it would expand and browse the game for free.

The French National Gaming Administration (ANJ) said that if it did not implement the change before March, it would impose a penalty of 5% of Sore's annual sales.

Although Sorare does not provide other gambling products such as sports gambling, the investment characteristics of NFT trading are based on real world events, which has an intriguing boundary between the formation of gambling and the non-formation of gambling.

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