Bessemer Venture Partners invested $680 million in Sorare, a fantasy soccer platform utilizing NFTs and blockchain technology to enhance fan engagement in the sports industry.
Target Information
Sorare is a groundbreaking fantasy soccer platform that enables players to buy, sell, trade, and manage a virtual team composed of digital player cards, which are stored on the Ethereum blockchain as non-fungible tokens (NFTs). Users act as team managers, fielding teams based on their player cards and earning points according to their real-world performance. With over 130 licensing agreements with some of the most prominent teams and leagues globally, including Real Madrid, Liverpool, Bayern Munich, PSG, and LaLiga, Sorare offers a unique and engaging experience for soccer enthusiasts.
The platform has witnessed remarkable growth, with over $150 million in card transactions since the beginning of the year and a staggering 34-fold increase in monthly paying users from Q2 2020 to Q2 2021. The innovative combination of fantasy sports and blockchain technology positions Sorare as a leading player in the rapidly evolving NFT landscape.
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Industry Overview
The global sports market, particularly soccer, boasts the largest fanbase worldwide, generating massive engagement during events such as the FIFA World Cup. The 2018 FIFA World Cup alone attracted an audience of 3.6 b
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Bessemer Venture Partners
invested in
Sorare
in 2021
in a Series B deal
Disclosed details
Transaction Size: $680M