A company well-known for its soccer non-fungible tokens and gamification is headed to Major League Baseball.
What Happened: Major League Baseball and MLB Players Inc announced a partnership with Sorare Thursday to launch the first NFT-based free-to-play game. The game will be released this summer.
“The connection between Americans and baseball is enduring. And baseball has always been on the cutting edge of new technologies and innovations, so we’re proud that MLB and the MLBPA have chosen Sorare to deliver and NFT MLB Game to fans globally,” Sorare co-founder and CEO Nicolas Julia said.
Fans will be able to collect NFTs and build the best team possible to earn points in interactive games. The company said the new Sorare MLB NFT game will offer new ways of interacting with the sport and a chance for MLB to appeal to a new fan base.
“The company’s focus on transforming fandom through an innovative combination of sports, technology and gaming to let fans truly own a piece of the game they love is unique and goes beyond borders,” MLB Commissioner Robert Manfred said.
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Why It’s Important: The partnership with Major League Baseball takes Sorare outside of the sport of soccer for the first time. The company has partnerships with several major leagues in Europe and also recently announced a partnership with Major League Soccer in the U.S.
Sorare has over 1.8 million registered users in 185 countries. Sorare has seen 32% month-on-month active user growth over the last 12 months. In March 2022, Sorare had 370,000 monthly active users.
Sorare had trading volume of $325 million last year and is on track to double that number this year, according to the company.
Among the top sales of Sorare NFTs were a Cristiano Ronaldo Sorare NFT sold for $400,312 in November 2021 and an Erling Haaland Sorare NFT sold for over $600,000 in February 2022.
Investors in Sorare include Benchmark, Accel Partners, Softbank, Serena Williams, Alexis Ohanian, Gary Vee and several athletes.
Courtesy photo.
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