Sorare has reached an agreement with the National Basketball Association (NBA) to create a non-fungible token (NFT) game under its license, allowing it to use the league’s team names and player portraits. The company, which had already signed similar agreements with Major League Baseball (MLB) and some European soccer leagues, including Spain’s La Liga and Ligue 1, is now the official NFT partner of the NBA.
Sorare will launch an NFT-based game, licensed by the NBA.
Sorare, an NFT game company fantastic, announced a new partnership with the National Basketball Association (NBA) to create a new game based on NFT technology. The company announced that it has signed a multi-year agreement to become the league’s official NFT partner, which means it will be able to use the image of players, teams and the league in its upcoming products.
Similar to other games already introduced by the organization, the upcoming game will allow users to build a team of NFT card players to earn points based on the actual performance of those athletes. Similarly, the team will be able to participate in a series of fantasy challenges on the Sorare platform.
About this development, NBA Commissioner Adam Silver said:
Our partnership with Sorare will give NBA fans a whole new way to engage with our teams and players. With Sorare’s emerging NFT fantasy platform, we see significant opportunities to expand our fan community and grow NBA basketball around the world.
This isn’t the league’s first foray into blockchain. Dapper Labs, the company behind the Ethereum game Cryptokitties, also partnered with the NBA to launch Top Shots in October 2020, achieving significant success.
Nicolas Julia, co-founder and CEO of Sorare, said:
Basketball is one of the most popular sports in the world and we are excited to bring fans closer to their favorite teams and players with Sorare: NBA.
The evolution of Sorare
This new partnership introduces the third sport to Sorare’s fantasy platform, which already has similar agreements with leagues in different sports and countries.
Similarly, the company has inked a similar agreement with MLB (Major League Baseball) to introduce baseball on its platform last May, becoming the association’s official NFT partner.
With its latest funding injection, Sorare has reached a valuation of $4.3 billion, raising $600 million in its Series B funding round in September 2021.