Sorare: Bringing Fantasy Sports into the Metaverse with NFTs and Blockchain Technology

As nonfungible tokens (NFTs) entered the arena in 2021, Sorare emerged as one of the leaders in the space, offering blockchain-based football (soccer) player cards for participants to trade and use in fantasy sports games. This case explores Sorare’s growth from a small start-up in Paris that struggled to secure funding, to a major player in the NFT space backed by SoftBank with a $680m funding round. It discusses the concept of NFTs and how Sorare uses the new technology in the sports industry, the challenges of launching an NFT-based business, the concept of the metaverse and it’s connection to NFTs. Students are invited to debate the next steps in Sorare’s strategy.