It has been reported that the fresh Series A round brings Sorare’s total funding to $60 million.
However, the funding round was led by Benchmark, an investment giant famous for funding companies like Twitter, Uber, and Snap. Accel Partners was another lead investor, known for backing companies like Facebook and Spotify.
The round also included some additional investment from investors like Reddit co-founder Alexis Ohanian, VaynerMedia CEO Gary Vaynerchuk, and Barcelona striker Antoine Griezmann.
Another goal for blockchain gaming! @SorareHQ, just raised $50M from the same financial backers of Twitter, Instagram, and Discord. https://t.co/R981gjNh3V — Cointelegraph (@Cointelegraph) February 25, 2021
The report said that with the new funding, Sorare is planning to continue growing its ecosystem, including launching a mobile application and onboarding the global top 20 football leagues.
“We’re designing an experience where fans can celebrate, share, and live football moments at a deeper connection. We’re making fantasy football a reality.”
Likewise, Sorare provides a digital collectibles platform based on the Ethereum blockchain. With nonfungible tokens (NFTs), the platform offers a collective fantasy football experience allowing players to manage their players and earn prizes.
Gerard Piqué, the Strategic Advisor at Sorare, explained that the platform aims to meet the significant shift to online and digital fan experiences.
Thus, he added:
“As world football has shifted from local supporters to global fanbases, football fans are looking for new ways to be connected to the game, the players and other fans.”