Juventus Joins Sorare’s Blockchain-Based Fantasy Football Game
Tokenizing game assets and collectibles, using blockchain technology, opens up new opportunities for gamers and esports and football fans. Sorare fantasy football platform already has partnerships with 37 football clubs and it’s now welcoming a licensing agreement with Italian legends Juventus. The move could see Juventus collectible football cards, like one that will be created for Cristiano Ronaldo, accumulate significant value for their eventual owners.
Sorare uses blockchain technology to give its soccer cards a unique identity. This tokenization means a card’s owner can trade it on secondary markets and digital collectible platforms. Much like a cryptocurrency, these digital non-fungible tokenized items have value inside and outside of a game.
On the Sorare platform players collect limited edition digital collectibles, in the form of player cards. They can then make up a team with 5 players cards and are ranked based on the performance of their players in real matches. There are multiple divisions to play in, and rewards for successful managers in the cryptocurrency ether. Player cards can be freely traded.
New football players from teams like Juventus become crypto collectibles, for each player and season Sorare issues a set number of unique, super rare, and rare player cards. This gives the cards scarcity and thus value.
— Sorare (@SorareHQ) February 20, 2020
As per a recent press release, Sorare says some of its unique football cards have been collected for over $2,000. The game has also achieved 5,000 monthly users since its launch in March 2019 and saw monthly activity volume equivalent to $50,000 for January 2020.
Juventus signed its licensing agreement with Sorare this week, joining other European clubs on the platform including Atletico Madrid, Porto and AS Roma. Sorare CEO, Nicolas Julia says:
“We are very proud to have signed this agreement with such an Italian heavyweight. We see this as a new key step in our vision to onboard the best soccer clubs from around the world and bring blockchain-gaming to football fans around the world.”
Sorare was selected for Ubisoft Entrepreneurs Lab’s program in October 2019 receiving what could be perceived as endorsement for its project from the gaming giant which has a definite interest in blockchain technology.
Juventus partnered with Astralis Group just a few months ago, in an agreement that will see Astralis run the Italian football club’s esports endeavours.
The tokenization of game assets promises to create complete in-game economies for players opening up the possibility of earning real cash from gaming, as well as more functionality for gameplay. Blockchain could also help to drive further growth in the gaming industry.