As part of a multi-year agreement, the Premier League will license official player cards for Sorare, a $4.3 billion fantasy soccer game. Under the terms of the multi-year arrangement, users of Sorare will have access to licensed NFTs from the Premier League that they can purchase and use in-game.
Sorare utilizes non-fungible tokens (NFTs) to create a fantasy sports game platform. With the help of several football leagues, Sorare has developed trading cards featuring professional football players.
Every single card has its corresponding token on the Ethereum network. All participants in a game of Sorare have access to a marketplace where they may trade and sell cards.
A lineup of five players is then selected, and points are awarded depending on the real-life performances of the selected players. The business generates revenue by periodically releasing new cards for sale on the platform, which users can then add to their own personal collections.
The Premier League is one of more than 280 international soccer organizations using the Paris-based network, including all 30 Major League Baseball clubs.
Sorare was initially reported to be in negotiations with the Premier Competition, England’s premier men’s soccer league, over a license arrangement in October 2022. Due to the Premier League’s existing NFT license arrangement with another business, Sorare CEO Nicolas Julia stated the process took longer than expected.
“The Premier League is a truly global competition and has been the home to so many iconic moments and players over the last 30 years. As football fans ourselves, this partnership is something we’ve dreamt of since we founded the business,” Julia said in a statement.
Sorare also announced the addition of two new gameplay elements. These include the option to compete with league-specific player cards and a “financial fair play” function that restricts users from picking all-star teams.