![]() ![]() Kosmos signed exclusive partnerships for intellectual property with over 50 iconic retired players such as Johan Cruyff, Diego Maradona, and Michel Platini. The initiative will be in partnership with sports company Kosmos, founded by Barcelona player Gerard Piqué and Rakuten’s CEO Hiroshi Mikitani. To date, Sorare’s NFTs have been associated with its fantasy football game based on active players. Following a $680 million Series B round of funding at a $4.3 billion valuation, the platform announced it will launch non-fungible token (NFT) trading cards of legendary football stars. The startup is preparing for a $530 million funding round, giving the company a $3.8 billion value.Sports blockchain platform Sorare is expanding its product portfolio. Sorare has stated that it has made over $130 million in sales since starting the platform at the beginning of the year. The way this will occur is by league and players producing tokens, so the La Liga deal is excellent for the industry. Although, experts have said that the NFT industry is here to stay. There have been many highs and lows in the trading card industry, causing people to equate this market to NFTs. ![]() There are also thoughts that the NFT industry is forming a bubble that will burst in the future. Nevertheless, there have been multiple attempts to produce knock-off tokens that have been distributed throughout the internet through resales. They are unique as each is produced on the blockchain. The only issues with NFTs have been the verification process. This was a major purchase because it was made in cryptocurrency. The most significant was Visa buying CryptoPunk for $150,000 in Ethereum. There were close to $70 million in sales since March, and some major acquisitions have occurred in 2021. NFT sales have skyrocketed throughout the year with the pandemic. Lionel Messi is one player in soccer who has pushed NFTs since they started becoming mainstream. Manchester City has released two collections of NFTs, and multiple other clubs have started to dabble in the space. The soccer world has been heavily involved in the NFT space. The NBA licenses game highlights to Dapper Labs to create NBA Top Shot NFTs. The industry has proven to be very lucrative since NBA Top Shot started the craze a few years ago. Sports leagues have made multiple commitments to the NFT space. La Liga will receive royalties for the sales, and Sorare has a minimum payment they must make to the organization. Julia said, “Today is a huge milestone for us because it’s the first top-five league joining the platform.” Sorare CEO Nicolas Julia spoke about the significance of the partnership for the company. Sorare said that it agreed to a long-term deal with the sports league and mentioned some of the players who will be highlighted, including Atlético Madrid’s Antoine Griezmann, Real Madrid’s Vinícius Júnior, and FC Barcelona’s Pedri. The tokens will be attached to a fantasy sports league for the soccer organization. ![]() Sorare will allow fans to trade cards and manage their NFTs. ![]() La Liga is pairing with Sorare, a French startup in the NFT space, for the collection. NFT is an abbreviation for non-fungible tokens, and they are virtual collectibles formed on the blockchain. This is going to be the league’s version of trading cards. The league made the announcement on Thursday and said NFTs would be given to all players. Many major American sports leagues like the MLB and NBA are heavily engaged in NFTs, so La Liga is continuing the trend overseas. Leagues getting involved in the NFT market is significant because it has been proliferating. La Liga, Spain’s top professional soccer league, is launching NFTs for all its players. ![]()
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