Liverpool extend partnership with fantasy sports startup NFT Sorare


FILE PHOT: Soccer Football – Premier League – Liverpool v Newcastle United – Anfield, Liverpool, Britain – August 31, 2022 A Liverpool flag is pictured before the match REUTERS/Phil Noble

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LONDON, Sept 22 (Reuters) – Liverpool Football Club is deepening its ties to the crypto world by expanding a partnership with French blockchain-based sports startup Sorare, the company said in a statement on Thursday.

Sorare, whose online fantasy sports game involves the sale of licensed digital sports cards that players can use to create teams that compete against each other, said he has an exclusive multi-year partnership with Liverpool to create content and experiences for fans.

Cards in the game are purchased and traded in the form of non-fungible tokens (NFTs), a kind of cryptographic asset that records the ownership status of digital goods on the blockchain. Read more

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A 2021 deal saw Liverpool Cards introduced to the platform and the new deal will see benefits such as Liverpool Stadium tours, matchday experiences, merchandise and video content offered as prizes for players. online game winners, said Sorare.

Sports-related collectibles have proven to be a popular type of NFT as the digital asset market exploded into a multi-billion dollar industry last year, though the frenzy has cooled in recent months. Read more

The average sale price of a Sorare NFT in August was $86.14, down from a high of around $280 in March of last year, according to market tracker CryptoSlam.

The UK gambling watchdog is investigating Sorare to determine if his gambling amounts to gambling. A spokesman for Sorare said it was “not relevant” to the partnership with Liverpool. Read more

“Sorare remains very confident that it does not offer any form of gambling, and this has been confirmed by expert legal opinions at every stage since the company was founded, including when entering into new partnerships,” said said the spokesperson.

Sorare claims to have more than 2 million users worldwide and partnerships with over 280 million sports organizations, including Major League Baseball in the United States and British soccer clubs. Read more

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Reporting by Elizabeth Howcroft; Editing by Emelia Sithole-Matarise

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