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Projects operating in the field of crypto currency are expanding their understanding with world giants. The big news was announced today. NBA and NFT fantasy football entry Sorare is back on the agenda for a big deal. The world’s largest companies in the Web3 field are predicting trillion-dollar growth. The cryptocurrency ecosystem has been the foundation of this field for a long time. Details are in our news.
Sorare became an official partner of the NBA. In today’s statements, the league’s National Basketball Players Association (NBPA) and NFT-based fantasy sports platform Sorare shared information about the future of the first officially licensed NFTs to be released in the 2022-23 season. The multi-year agreement makes Sorare the official fantasy NFT partner of the NBA. Much like Sorare’s offerings in global soccer and Major League Baseball, you can buy blockchain-backed NFT cards representing your favorite players for free via an auction format or on Sorare’s official marketplace. Many cards are available for free but cannot be sold. A more valuable NFT card must be purchased directly from the aforementioned auction or marketplace. Player cards have been very popular for years and valuable physical cards can be sold for tens of thousands of dollars. Sorare is also inspired by this, they breathe new life into an existing field.
“Our partnership with Sorare will provide NBA fans with an entirely new way to interact with our teams and players. With Sorare’s emerging NFT fantasy platform, we see significant opportunities to expand our fan base and grow NBA basketball globally.”
What is Sorare?
Bringing a new lease of life to fantasy football games, Sorare plays weekly tournaments with NFT-based player cards. After practicing with the free cards you have, you need to buy them from paid NFTs to compete in higher leagues. The blockchain-based fantasy football app rewards players with valuable NFT cards through frequent tournaments. To date, Sorare has reached more than two million registered users in 185 countries.
Sorare’s Head of Business Development Michael Meltzer said;
“Using the power of blockchain technology, we are creating a fun space for fans. What sets us apart is the element of ownership mixed with gamification.”
Immediately following the news, the NBA described the project as a natural extension of its ongoing mission to develop its Web3 presence and capitalize on Sorare’s strong international audience.
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