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Soccer NFT trading startup Sorare is close to raising the biggest-ever round in French tech with $530 million led by SoftBank
Callum Burroughs 21 hours ago

Sorare cofounders Nicolas Julia and Adrien Montfort
Sorare cofounders Nicolas Julia and Adrien Montfort Courtesy of Sorare
Soccer NFT platform Sorare is close to closing the biggest ever round in French tech, sources say.
The startup is set to raise around $532 million, smashing a record previously set by France's ContentSquare.
The round is expected to be led by investment giant SoftBank, as previously reported by Insider.
Sorare, a startup which allows soccer fans to trade digital playing cards, is expected to announce a major new tranche of funding as investor demand for non-fungible tokens continues to soar.

The Paris-based startup is expected to raise the largest round in the history of French tech, with around 450 million euros ($532 million) in funding at a valuation of at least $3.8 billion, three sources told Insider. Sorare's valuation could surpass $4 billion, a remarkable figure for a three-year-old business.

Insider first reported in May that Japanese investing giant SoftBank had held detailed discussions with the startup about a big funding round.

Sources have since indicated that SoftBank is set to the lead the round, with European fund Atomico also expected to participate.

Other prospective backers include French funds Eurazeo, an asset manager with over $27 billion assets under management, and Blisce, a fund set up by French entrepreneur and philanthropist Alexandre Mars. Insider understands a US fund may also join the round.

However, Sorare CEO Nicolas Julia denied that a funding round was taking place. Though the round is said to be close to being finalized, the details may yet change.

SoftBank, and Atomico did not immediately respond to a request for comment. Eurazeo declined to comment. Insider was unable to contact Blisce for comment.

Sorare was founded in 2018 and has built an online marketplace where users buy and sell digital playing cards that represent football players ranked by their real-world match performance.

Non-fungible tokens, or NFTs, are digital assets backed by blockchain technology. The sell is that NFTs are unique, thereby boosting their perceived value — though skeptics question their high prices.

In the first quarter of 2021, NFT sales topped $2 billion amid a spike in interest.

Some of Sorare's cards are likewise billed as these one-of-a-kind digital collectibles. An investment by SoftBank would mark ongoing investor interest in NFT marketplaces. OpenSea, another marketplace where buyers can purchase digital collectibles, raised $23 million from Facebook backer Andreessen Horowitz in March.

Sorare allows users to trade digital soccer cards.
Sorare allows users to trade digital soccer cards. Sorare
Should Sorare hit the floated valuation, this would mint France's 17th unicorn, and its 10th this year.

Sorare raised a $50 million Series A round in February, which was led by Benchmark Capital alongside Accel, Reddit cofounder Alexis Ohanian and Barcelona and France soccer star Antoine Griezmann.

In February the company claimed to be profitable with 52% month-on-month growth for the past 12 months, per a press release detailing its Series A raise. The firm said users traded $4.2 million of cards in January 2021.
https://www.businessinsider.com/sorare-nft-softbank-soccer-funding-2021-7

Soccer NFT trading startup Sorare is close to raising the biggest-ever round in French tech with $530 million led by SoftBank
Callum Burroughs 21 hours ago

Sorare cofounders Nicolas Julia and Adrien Montfort
Sorare cofounders Nicolas Julia and Adrien Montfort Courtesy of Sorare
Soccer NFT platform Sorare is close to closing the biggest ever round in French tech, sources say.
The startup is set to raise around $532 million, smashing a record previously set by France's ContentSquare.
The round is expected to be led by investment giant SoftBank, as previously reported by Insider.
Sorare, a startup which allows soccer fans to trade digital playing cards, is expected to announce a major new tranche of funding as investor demand for non-fungible tokens continues to soar.

The Paris-based startup is expected to raise the largest round in the history of French tech, with around 450 million euros ($532 million) in funding at a valuation of at least $3.8 billion, three sources told Insider. Sorare's valuation could surpass $4 billion, a remarkable figure for a three-year-old business.

Insider first reported in May that Japanese investing giant SoftBank had held detailed discussions with the startup about a big funding round.

Sources have since indicated that SoftBank is set to the lead the round, with European fund Atomico also expected to participate.

Other prospective backers include French funds Eurazeo, an asset manager with over $27 billion assets under management, and Blisce, a fund set up by French entrepreneur and philanthropist Alexandre Mars. Insider understands a US fund may also join the round.

However, Sorare CEO Nicolas Julia denied that a funding round was taking place. Though the round is said to be close to being finalized, the details may yet change.

SoftBank, and Atomico did not immediately respond to a request for comment. Eurazeo declined to comment. Insider was unable to contact Blisce for comment.

Sorare was founded in 2018 and has built an online marketplace where users buy and sell digital playing cards that represent football players ranked by their real-world match performance.

Non-fungible tokens, or NFTs, are digital assets backed by blockchain technology. The sell is that NFTs are unique, thereby boosting their perceived value — though skeptics question their high prices.

In the first quarter of 2021, NFT sales topped $2 billion amid a spike in interest.

Some of Sorare's cards are likewise billed as these one-of-a-kind digital collectibles. An investment by SoftBank would mark ongoing investor interest in NFT marketplaces. OpenSea, another marketplace where buyers can purchase digital collectibles, raised $23 million from Facebook backer Andreessen Horowitz in March.

Sorare allows users to trade digital soccer cards.
Sorare allows users to trade digital soccer cards. Sorare
Should Sorare hit the floated valuation, this would mint France's 17th unicorn, and its 10th this year.

Sorare raised a $50 million Series A round in February, which was led by Benchmark Capital alongside Accel, Reddit cofounder Alexis Ohanian and Barcelona and France soccer star Antoine Griezmann.

In February the company claimed to be profitable with 52% month-on-month growth for the past 12 months, per a press release detailing its Series A raise. The firm said users traded $4.2 million of cards in January 2021.
https://www.businessinsider.com/sorare-nft-softbank-soccer-funding-2021-7

猫に月1使ってるブロードラインとレボリューションがフィラリア予防薬で去年一時買えなかった時期があるんだけどこれもそうなんかな(´・ω・｀)進化型って書いてる
人間の首にも垂らして使えるんだろうか