Spanish football league first to enter the ‘blockchain’ industry

by Lorraine Williamson
blockchain industry and football

MADRID – Spain becomes the first of the five major leagues in Europe to enter the blockchain world of NFT. This is non-fungible token or cryptographic token. La Liga has reportedly signed a five-year deal with fantasy football platform Sorare. 

Gerard Pique or Antoine Griezmann appear as investors in this. For example, the football league is joining the wave of sports collection via NFTs. This acronym covers digital assets verified through blockchain technology, which supports other assets such as cryptocurrency. 

NFT

Entering the world of NFT, La Liga is looking for ‘new ways to innovate and engage with fans’. The agreement with Sorare opens up business opportunities thanks to the licenses, as Sorare will launch NFT of all La Liga players, who have invested more than 200 million in the development of new technologies. 

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Unique cards

These digital cards are added to the activities of the Sorare exchange marketplace, which has more than 500,000 registered users and more than 150 football clubs with unique cards whose ownership can be publicly verifiable via blockchain. 

Their plans are to sign similar agreements with each of the top 20 football leagues before the end of 2022, in a context where the NFT space has moved more than $150 million ($126 million) in ticket sales this year alone. 

In the latest financing round, Sorare was valued at about $3.8 billion. Sorare brings together other luminaries from the financial world, such as the Benchmark fund, Accel Partners, Alexis Ohanian, co-founder of the company Reddit, or Gary Vaynerchuck, investor in successful companies such as Uber, Snapchat, Facebook, or Twitter. 

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