Premier League Powers On: Embracing Cryptocurrency for a Bright Future

    Premier League Joins Forces with Sorare: A Groundbreaking Deal in the Integration of Blockchain in Sports

    The world’s largest and most popular soccer league, Premier League, has signed a four-year exclusive deal with the blockchain-based fantasy soccer game Sorare. The deal allows Sorare players to buy and use officially licensed digital cards representing Premier League players, and the Premier League has the option to take an equity stake in the game. The deal’s financial terms were not disclosed, but reports suggest the multi-year deal is worth tens of millions of pounds annually.

    Sorare, the third-biggest NFT collection worldwide, processed around $1 million in transactions per 24-hour period and was last valued at $4.3 billion in 2021. Sorare counts Kylian Mbappe, Lionel Messi, and Serena Williams as shareholders and has focused on intellectual property over sponsorships, allowing it to strike deals with Major League Soccer, Major League Baseball, and the National Basketball Association.

    Sorare’s exchanges totaled $500 million in 2022, up from $270 million in 2021, showing the growing popularity and demand for NFTs and blockchain technology in the sports industry. The Premier League’s decision to join forces with Sorare demonstrates the league’s commitment to expanding its digital footprint and embracing new technologies. This also sets a trend for other major sports leagues to follow and utilize the potential of blockchain technology.

    In conclusion, the Premier League’s deal with Sorare is a significant milestone in integrating blockchain technology into the sports industry. With the growth of NFTs and the increasing demand for unique, collectible digital items, the Premier League is ensuring its place at the forefront of technological advancements in the sports world.

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