German football club OneFootball raised $300M to its mark presence in Web3 and metaverse

OneFootball has secured $300 million in a Series D fundraising round to grow the company's presence in the digital world
OneFootball has secured $300 million in a Series D fundraising round to grow the company's presence in the digital world

The famous German football media application, OneFootball has announced that it has secured $300 million in a Series D fundraising round with the aim to grow the company’s presence in the digital world. It aims to use the funding for expansion in Web3 and for development of new features on its platform.

Major blockchain platforms and venture capital firms were found participating in the funding round, including Animoca Brands, Dapper Labs, DAH Beteiligungs GmbH, Quiet Capital, RIT Capital Partners, Senator Investment Group, and Alsara Investment Group. It was led by New York-based venture capital firm Liberty City Ventures.

OneFootball partners with Animoca brands 

As per the recent announcement, the company has also joined hands with NFT-focused Animoca Brands have joined hands to create a joint venture called OneFootball Labs. The new platform is created with the goal to “enable clubs, leagues, federations, and players to provide digital assets and fan-centric experiences based on blockchain technology.” 

Moreover, the Football fans would also be given the option to buy and store digital collectibles using their email addresses and credit cards.

Animoca Brands will provide its blockchain, NFTs, gaming, and metaverse expertise and network to help OneFootball develop new goods and services that will expand digital fandom while also providing new revenue streams for the football industry. 

“We believe the future of football away from the stands and off the pitch will be decentralised and based on Web3, handing back the ownership of data and digital assets to the fans,” said Lucas von Cranach, founder, and CEO of OneFootball.

OneFootball’s 100 million monthly active users, according to managing partner of Liberty City Ventures, Murtaza Akbar, represent a potential to employ blockchain technology to benefit a large community of football aficionados.

Some of the most notable elements of the metaverse are greater engagement and ownership of virtual things. OneFootball may seize these chances to provide access to the “beautiful game” for more people.

Manchester City, the English Premier League champions, have signed a three-year deal with Sony to give virtual reality to professionals for image analysis and skeletal-tracking technology from Hawk-Eye. It has also reported teaming up with Sony to build Etihas Stadium in Metaverse.