The French blockchain startup Sorare partnered with the NBA and the NBA Players’ Association to launch the first of its kind NFT fantasy basketball game. While digital card fantasy games in sports are nothing new, digital cards powered by NFTs are taking fantasy sports games to a whole new level.
Bringing Fans Closer to The Action Through NFTs
Sorare NFT revolutionized the sports card games with Sorare Football. The game had plenty of success, while the players available on OpenSea are affordable for everyone. For instance, Messias is available on the secondary market for 0.0048 Ethereum (ETH), which converts to $7.73.
Moreover, the blockchain startup signed a deal with Major League Baseball (MLB) on May 12, 2022. The venture into other sports than football has proven to be fruitful for Sorare. At the moment, the NFT platform has around 2 million users worldwide. Also, the company acquired a Major League Soccer (MLS) license, even though the sport is way less popular in the United States than Europe.
Now, as the company is switching its attention to basketball, Nicholas Julia, the co-founder and Chief Executive Officer of Sorare NFT, explains the reasoning behind the move: “Basketball is one of the most popular sports in the world and we are excited to bring fans even closer to their favorite teams and players through Sorare: NBA.”
NBA Is Getting Deeper into Web3
The Sorare: NBA game will be launched in celebration of the new NBA season, which starts on October 18th, 2022. Moreover, the Sorare: NBA game will use Ethereum (ETH) blockchain for the game engine, but the partnership with ZK Rollup reduces the transaction fees, and players can swap NFT cards faster.
Moreover, the purchased NFT cards with player traits can be stored in a personal NFT collection or added to a lineup. In the basketball fantasy league, players will compete for exclusive prizes provided by Sorare. Ultimately, the new NFT card game is likely to be a hit in the United States, where basketball is very popular.
Previously, NBA partnered with TopShot to bring an NFT collection full of highlights of the association’s history. TopShot’s NFT collection has collected massive revenue, as the legendary Lebron James NFT card was sold for $208,000, setting a new milestone for the teamwork between basketball and blockchain.
On the Flipside
The joint effort between crypto and sports seems to be paying off, but the overall NFT market is plummeting. Moreover, the most expensive NFT collection of all time, the Bored Apes, has over 200 NFTs facing liquidation due to the BendDAO incident.
Why You Should Care
Partnerships between blockchain companies and sports clubs are expected to generate at least $2 billion in revenue in 2022.
Learn about FIFA+, the new NFT platform by FIFA, being launched in celebration of the upcoming World Cup