![]() ![]() NFTs are unique tokens compared to cryptocurrencies like Bitcoin because they are created in small batches to represent a digitally scarce item like football player cards. In November last year, reigning UEFA Champions League Winners FC Bayern Munich joined Sorare, giving its fans the chance to trade digital cards based on its top players like Robert Lewandowski, Thomas Muller, and Manuel Neuer.Īs more investments continue trickling into the Ethereum-based fantasy football platform, there is an enormous market to tap. This is a product that could bring the crypto asset class to millions of people.”įurthermore, the platform hosts top-ranked soccer clubs like Juventus. “Human beings have been collecting for centuries it’s something we do. Sorare is proving to be a force to be reckoned with in the NFT and fantasy football space because it is used by at least 4 billion football enthusiasts globally. ![]() Sorare hosts at least 4 billion football fans This has been paid off because its sales have increased exponentially by 130 times from $50,000 in January 2020 to nearly $6.5 million this month.īenchmark, together with other investors like Reddit and Accel, intends to invest a total of $60 million into the platform as its popularity continues to grow. The fund was located in North America if to be more exact in United States. One of Sorare’s primary goals is to boost blockchain and digital asset adoption in daily life. The leading representative office of defined VC is situated in the San Francisco. Moreover, the cards earn points on the foundation of every player’s respective real-world weekly performance. These cards are limited and can be transferred as unique non-fungible tokens (NFTs). To effectively and consistently benchmark and monitor your VC performance and risk metrics, it is essential to define objectives and criteria clearly, choose metrics and tools. Sorare is a fantasy soccer video game founded on the Ethereum blockchain that enables users to build their preferred teams and trade football player cards. Benchmark, a venture capital company that earlier backed Ebay Inc., Twitter Inc., and Uber Technologies, plans to invest a whopping $50 million into Ethereum-powered fantasy football platform Sorare. Benchmarking provides a way for limited partners (LPs) and general partners (GPs) to gauge the performance of an individual fund in relation to its peers and evaluate broader performance across asset classes. ![]()
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