In recent months, the links between the crypto-asset world and sports organizations have become increasingly intense, allowing companies like Sorare or Socios.com to grow exponentially in their operations while providing new opportunities for professional clubs. But are these models sustainable and risk-free with blockchain technology for various players in professional sports, including fans? Investigation.
January 25, 2022. Since the news in the field of energy is intense, the news is not in the headlines. However, the incident is far from anecdotal. Several Central Asian countries, including Kazakhstan, Uzbekistan, and Kyrgyzstan, suffered a massive power outage that lasted several hours, completely paralyzing the activities of many of the region’s major cities, including Almaty and Tashkent. After an investigation, Kazakh national power company Kegoc identified a culprit: the cryptocurrency mining industry, where several big players were drawn to Kazakhstan at the end of 2021 after tightening regulations in China, will cause consumption to peak. to this blackout.
While this version has been debated by many political and economic authorities in the region – with more attention being drawn to the obsolescence of the communist-era power grid – it still demonstrates the frenzy that has driven the crypto-asset market for several months. Growing interest in blockchain technology, cryptocurrencies and all derivatives products that cause high volatility in the prices of various digital assets but also stimulate the growth of new companies navigating this wave of waves. symbolization economy.
Sport is not outside of this movement, quite the contrary. A pioneer in the world of NFT digital football cards – French company Sorare, which has completely reinvented the concept of stickers thanks to blockchain technology and the creation of a fantasy game based on its cards – managed to complete a fundraiser last September. $680 million with an initial value of $4.3 billion! An operation that even received congratulations from Emmanuel Macron. The tricolor unicorn followed in the footsteps of its American rival Dapper Labs, which raised $305 million last March to support the development of NBA Top Shot, the NFT cards that capture the greatest moments of the NBA, and this round has caught the attention of investors. Like Michael Jordan, Kevin Durant, Ashton Kutcher or Will Smith.
“Our vision is to create a world champion in sports entertainment. The funds raised will enable us to accelerate our development in four axes. As we continue to sign exclusive partnerships with the world’s leading football leagues, we also want to expand into other sports. We also want to recruit the best talent. Next, we want to continue improving our product, for example by creating a mobile application. We also plan to launch our first marketing campaigns. Finally, we want to invest in the community built around Sorare by helping underprivileged people and businesses by developing new ecosystems (our cards can already be used in other games) and promoting the practice of sports at large. “Promoting the representation of women in sport” relied on Nicolas Julia, Sorare’s Co-Founder and CEO, during an interview given at the center of a very busy agenda.
Funds raised in this way by Sorare will fuel the already dizzying growth of activity. Launched in 2019, Sorare has surpassed one million registered users on its platform and currently has more than 300,000 monthly active players. In France, birthplace of Sorare, more than 50,000 active user trading cards per month annoyed, rare, extremely rare Where matchless Join Fantasy League game developed by football players and/or startup. And some major player cards are currently trading for over $100,000, like the release. matchless Sold by Erling Haaland at the end of January for $678,000!
“Sorare implemented a model that ticks all the boxes for success. The company is now recruiting several hundred new players a day. Sorare is currently aiming to expand into new disciplines and other markets, particularly in the United States. We even start talking about an investigation of the sports economy! As soon as a new company launches collectibles and starts to be successful, we conjure up the Sorare of rugby and even the Sorare of cycling… It is a symbol of blessing”, deciphers a crypto-assets expert who prefers to remain anonymous.