Blockchain-enabled fantasy soccer game Sorare has inked a licensing deal with leading French team Paris Saint-Germain (PSG), allowing it to tokenize the club’s past and present soccer players such as David Beckham, Kylian Mbappe and Neymar.
Announced Tuesday, Sorare also said it is launching its platform out of beta for users in the United States. The official rollout follows a licensing deal with the MLS Players Association signed in June.
The deal comes as Sorare seeks to capitalize on the growing buzz around NFTs, the Ethereum tokens that make ownership of unique digital items possible. According to data shared exclusively with CoinDesk, Sorare’s Brian O’Hagan said the firm has seen revenues increase sharply in recent months, reaching $800,000 in August alone, up from $30,000 in December 2019.
Sorare uses the Ethereum blockchain to mint digital trading cards representing professional soccer players. The digital cards can be collected, traded and also used to participate in the platform’s weekly league competitions.
While the platform has clocked an overall reach of about 40,000 users worldwide since launching in March 2019, its monthly active users (MAU) count stood at 5,891 last month, according to data shared by Sorare.