Sorare Bags Partnership Deal With NBA and NBPA

Sorare announced its multi-year partnership with National Basketball Association (NBA) and National Basketball Players Association (NBPA) as it expands to the United States.

Markedly, this is the third of such deals that Sorare has secured in the United States. This deal shows Fantasy sports non-fungible tokens (NFTs) games are gradually gaining more popularity and attracting many entities. 

Sorare is a French blockchain startup that specializes in fantasy games for football brands. Users can utilize its platform to buy, sell, earn, and trade as well as oversee a virtual team of players with digital cards. 

The platform was developed in 2018 by Nicolas Julia and Adrien Montfort. Sorare prides itself as one of the leading digital assets games in Europe. The design of the platform was deployed on the Ethereum (ETH) blockchain, therefore Sorare cards are ETH-based NFTs.

With its current partnership with NBA and NBPA, sports fans can now create their unique fictional player character including their teams. They would utilize NFTs cards that depict their favorite players. With these NFT cards, fans can earn points, prizes, and money. 

In the past, Sorare partnered with Major League Baseball and Major League Soccer. According to Sorare, these deals with support leagues are yielding returns. 

The NFT soccer startup believes that its partnership with NBA will increase its current 2 million user base. Currently, Sorare has recorded 250,000 new users on its platform while its weekly trading volume increased by 63%. 

Sorare Partners With Bundesliga and La Liga

Sorare is encouraging the cross-trading of NFT cards because this partnership is with multiple brands. 

Michael Meltzer, Head of Business Development at Sorare mentioned that this cross-trading will allow users to amass a large collection of NFTs. Additionally, the U.S. sports leagues will get marketing opportunities through this NBA and Sorare partnership.

Last year, the German football league Bundesliga struck a deal with the soccer NFT and gaming platform. The Bundesliga partnership affords Sorare users to play, trade, and manage NFTs from Bundesliga and Bundesliga 2. Another partnership that Sorare bagged last year was with Spain’s soccer league, La Liga. 

Cumulatively, the collaboration with both La Liga and Bundesliga gave Sorare access to over 3.5 million football fans of the two soccer leagues.