The football Non-Fungible Token (NFT) creator Sorare has announced a licensing agreement with the France Football Federation to release national team digital trading cards through its platform this month amid Euro 2020.
Up until now, Sorare has stuck with club-based cards to be bought and sold through cyptocurrency, as well as used in fantasy football games for cash prizes. This move, the company said, is the "first of many" that can expand its reach into national team fan bases.
Sorare also offered an update on the number of users on its platform, claiming a 90,000 monthly active user base spread over 140 countries with more than $70 million in card sales since the start of the year. The company's CEO, Nikolas Julia, previously told Goal that he wants to reach £718.4m ($1 billion) in annual card sales by 2024.
What has been said?
"Following its licensing agreement with the French Football Federation, the company’s ambition is to onboard all the football associations in the world," wrote the company in a release. "Many football associations are in active discussion with Sorare to launch their NFTs during Euro 2020."
Added Julia: "We’ve onboarded the world champions: the French team. It is the first of many football associations that will be joining us in the coming weeks and months."
Bigger picture
Sorare continues to amass licensing agreements for its platform as it tries to take an insurmountable lead over potential competition that will almost certainly crop up in the coming years, and this is another play for market dominance with the next World Cup rapidly approaching.
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