Sorare Partners With NBA for NFT-Based Fantasy Basketball Game
NBPA and NBA have signed a deal with Sorare. NFT National Basketball fantasy partner, Sorare will get exclusive rights to use the NBA league and team insignia.
A multiyear partnership between the French company and NBA will debut in NBA 2022-23 with the launch of an officially licensed fantasy basketball game using NFT technology. The game will be called "Sorare: NBA."
The NBA game is free to play for anyone 18 years or older, and people can join the waiting list to get notified once it becomes available. It will feature digital cards representing basketball players, and users will be able to build lineups of players based on their performance in real life and earn points.
In a statement, NBA commissioner Adam Silver said, “Our partnership with Sorare will give NBA fans an entirely new way to engage with our teams and players,”
He adds, "With Sorare’s emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world.
Earlier in May, Major League Baseball announced a partnership with Sorare to launch its online game, solidifying the company's expansion into the United States. The company also holds rights to over 280 international soccer clubs that play in prestigious leagues including Italian Serie A, Bundesliga, and LaLiga.
Sorare's Ethereum-powered platform, which offers collectibles for a fantasy soccer game, received 680 million in funding last year with a valuation of $4.3 billion.
Dapper Labs has done a similar NFT experiment with its game NBA Top Shot. It's a memorable NBA moment when users are able to access and resell these non-fungible tokens.
CBW - External Analyst