According to a statement released by Sorare on Thursday, the French blockchain-based sports firm is expanding its cooperation with the Liverpool football team to further strengthen its ties to the cryptocurrency community.
Sorare, a company that sells licensed digital sports cards for use in its online fantasy sports game where players can assemble teams to compete against one another, announced an exclusive multi-year relationship with Liverpool to produce fan-focused content.
Non-fungible tokens (NFTs), a type of crypto asset that tracks the ownership status of digital commodities on the blockchain, are used to purchase and exchange the game’s playing cards.
Liverpool cards were introduced on the platform in a 2021 partnership, and the new deal will include incentives like as Liverpool stadium visits, match day experiences, souvenirs, and video content as prizes for online gaming champions, according to Sorare.
As the digital assets market grew into a multibillion-dollar business last year, sports-related collectibles became a popular sort of NFT, albeit the frenzy has calmed in recent months.
According to market tracker CryptoSlam, the average sale price of a Sorare NFT in August was $86.14, down from a peak of over $280 in March last year.
The gaming watchdog in Britain is looking into Sorare to see whether or not the game constitutes gambling. According to a Sorare spokeswoman, this was “not relevant” to the collaboration with Liverpool.
“Sorare remains very confident it does not offer any forms of gambling, and this has been confirmed by expert legal opinions at every stage since the company was founded, including when signing new partnerships,” the spokesperson said.
According to Sorare, it has partnerships with more than 280 million sports organizations and over 2 million users globally, including Major League Baseball in the United States and UK football clubs.