MLB enters into a deal with NFT Fantasy game operator

Major League Baseball goes deeper into the NFTs.

The league announced this morning that it has signed a contract with the newly established company “Sorare” in Paris, which runs a fantastic sports game. NFTs or non-convertible tokens. Users can pay players to collect tokens, և tokens accumulate points equivalent to the performance of players in real games.

A Sorare spokesman said the company had provided MLB with an advance payment guaranteed to sell the tokens for future royalties, but declined to provide a dollar value for the deal. League և Sorare will share the proceeds from the sale of tokens, which are also sold to fantastic game players և.

The prices of the signs will be different depending on their rarity. Sorare tokens for other sports, such as football, have changed hands for free, selling for up to $ 600,000.

Sorare is among the growing crop of venture-sponsored start-ups that produce Using NFT, a type of digital act that gives ownership of a particular product or special service. Last year, Sorare raised $ 680 million, valued at $ 4.3 billion, from investors, including Benchmark, an influential venture capital firm that made early bets on Uber, eBay and WeWork.

In an interview, Sorare CEO Nicolas Julia said the company is profitable, earning about $ 100 million last year, which it shared with the leagues.

The deal with MLB is part of Soray’s broader strategy to expand into the United States, favoring fans of other popular sports leagues, said Julia. The company has opened an office in Manhattan’s SoHo district and hired American executives, including Ryan Spoon, a former ESPN chief executive who recently served as CEO of BetMGM.

This is not the first NFT deal for MLB. In April, the league announced that it was extending its contract with Candy Digital, an NFT baseball card company. The big players in sports media technology are using the NFTs as a promising line of business, as the NBA և NFL is exploring new opportunities.

Sorare can face a lot of competition from well-established companies that run fantastic rival games. DraftKings, a publicly traded fantasy sports betting company, signed a contract with Reignmakers Football last year to create a fantastic NFT game.

In an interview, Mr. Spoon said Sora had an advantage over established players because it did not deviate from building other businesses or generating quarterly earnings.

“Our partners, our players, expect us to focus exclusively on that,” Mr Spoon said.

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