Friday, July 1, 2022
About us | Contact
Blockzeit
  • bitcoinBitcoin(BTC)$19,484.891.63%
  • ethereumEthereum(ETH)$1,075.733.60%
  • binancecoinBNB(BNB)$218.301.65%
  • SolanaSolana(SOL)$33.112.01%
  • dogecoinDogecoin(DOGE)$0.0665571.22%
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
No Result
View All Result
Blockzeit
No Result
View All Result
Home NFTs
Sorare

Sorare

Sorare among Firms Shortlisted for NFT Partnership with English Premier League

Tom Nyarunda by Tom Nyarunda
February 21, 2022
in NFTs
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

The English Premier League (EPL) has shortlisted Sorare, Candy Digital, Dapper Labs, and ConsenSys for its first NFT (non-fungible token) partnership. Premier League will award a four-year license to produce blockchain products, including Panini NFTs.

The EPL has released a shortlist of four blockchain firms for its upcoming non-fungible (NFT) token license. The firms that made it to the final shortlist included Sorare, Candy Digital, Dapper Labs, and ConsenSys. A report in the Daily Mail says that English soccer’s top flight was mulling over bids offering returns of between US$298 million and US$589 million over the next four years.

As per the report, the winning bidder for the Premier League’s digital collectibles, which will be presented to clubs before the end of February, will reportedly gain an official license to produce a range of blockchain-based products – including NFTs based on Panini stickers.

A $680 million cash injection by SoftBank

The EPL seems eager to join other sports organizations that are already reaping millions of dollars in the emerging NFT market. NFTs are digital tokens representing and validating ownership of virtual items, including works of art and, most recently, sports trading cards. Every NFT is unique and cannot be replicated since ownership is tracked via blockchain, a digital transactional ledger that’s the bedrock of cryptocurrencies like Bitcoin and Ether. 

There are all chances that the move by SoftBank caught the attention of EPL bosses besides the deal signed by La Liga and Sorare in September 2021. Sorare is a French sports blockchain firm gaining popularity in the evolving NFT space, especially following a $680 million cash injection by SoftBank. Whereas the finer details between Sorare and La Liga remain under wraps, rumor has it that the deal was exclusive and long-term, with La Liga reportedly receiving royalties on the sale of NFTs tied to its players.

The fantasy football firm earns its revenues by selling and issuing new trading cards

Sorare, which has over 500,000 registered users, is expected to raise at least $200 million in transactions alone by the end of 2022. The fantasy football firm earns its revenues by selling and issuing new trading cards. Users collect cards or earn them to a team of players who earn points based on real-world performances. The teams compete in leagues and tournaments to win non-cash prizes.

Interestingly, the UK’s Gambling Commission industry regulator opened an inquiry into Sorare’s business model in October after launching a blockchain-based fantasy soccer game without obtaining a UK license. However, a spokesperson for Sorare recently said about their services or promotions to users:  

“We received extensive legal advice from several leading law firms.” The company “strongly believes […] are not gambling in the UK or in any other jurisdiction in which we operate.” 

Sorare is free, and anyone with a passion for football can be a part of it

Fantasy football is a real-time competition where users can create their fantasy team from a list of players and compete in leagues with other people. Sorare’s crypto gaming model for fantasy football allows players to play the game and own the in-game assets as NFTs on the Ethereum blockchain. Sorare is free, and anyone with a passion for football can be a part of it. By buying and trading player cards as NFTs, users can participate in fantasy football competitions and earn rewards that they own as unique assets.

1a49ddd7 d169 48a0 a252 3fc3a2ad01bb 1
Tom Nyarunda

Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

Previous Post

What Is the Mars4 Metaverse Project?

Next Post

Earn Guild’s public sale coming to PancakeSwap

Related Posts

Arbitrum Odyssey

Arbitrum Odyssey: How to Participate and Earn 17 Exclusive NFTs for Free

by Vincent Munene
June 24, 2022
0

Arbitrum is a layer-2 blockchain that Offchain Labs built. Following Optimism's footsteps, Arbitrum might be conducting their airdrop soon. The...

NFT

Top 5 Blockchains for NFT Development

by Jay Speakman
June 23, 2022
0

NFTs, like all blockchain technology, can be used for a variety of practical purposes, including, gaming, document authentication, ticket scalping...

social media nft

The Role of Social Media in the Sale of NFTs

by Jay Speakman
June 21, 2022
0

Social media has a vital role in determining the popularity of assets and the NFT market is replete with examples...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Buy Crypto
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

No Result
View All Result
  • Home
    • Business
    • Politics
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
    • Metaverse
  • Education
    • Glossary
    • Buy Crypto
      • Buy Cardano
  • Events
    • Metaverse Events
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.