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Liverpool NFT Partnership: Liverpool expands partnership with NFT fantasy sports startup Sorare

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Liverpool NFT Partnership: Liverpool Football Club deepens its ties to the crypto world by expanding a partnership with French blockchain-based sport…

Liverpool NFT Partnership: Liverpool Football Club is deepening its ties to the crypto world by expanding a partnership with French blockchain-based sports startup Sorare, the company said in a statement on Thursday. Follow InsideSport.IN for football latest updates

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Liverpool NFT Partnership: Liverpool expands partnership with NFT fantasy sports startup Sorare

Sorare, whose online fantasy sports game involves selling licensed digital sports cards that players can use to build teams that compete against each other, said it had an exclusive multi-year partnership with Liverpool to create content and experiences for fans.

The cards for the game are bought and traded in the form of non-fungible tokens (NFTs), a type of crypto-asset that records the ownership status of digital goods on the blockchain.

A 2021 deal saw Liverpool cards introduced on the platform and the new deal will see perks such as Liverpool stadium visits, matchday experiences, merchandise and video content offered as prizes to winners of the online game, Sorare said.

Sports-related collectibles proved a popular type of NFT as the digital asset market exploded into a multibillion-dollar industry last year, though the frenzy has cooled in recent months.

Liverpool NFT Partnership: Liverpool expands partnership with NFT fantasy sports startup Sorare

The average sale price of a Sorare NFT in August was $86.14, down from a peak of around $280 last March, according to market tracker CryptoSlam.

The UK’s gambling watchdog is investigating Sorare to assess whether its games amount to gambling. A spokesman for Sorare said this was “not relevant” to the partnership with Liverpool.

“Sorare remains very adamant that it does not offer any forms of gambling and this has been confirmed by legal expert opinions at every stage since the company was founded, including when signing new partnerships,” the spokesman said.

Sorare says it has over 2 million users worldwide and partnerships with more than 280 million sports organizations, including Major League Baseball in the US and UK soccer clubs.

Liverpool NFT Partnership: Liverpool expands partnership with NFT fantasy sports startup Sorare

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